It may have taken the finance ministry’s Monthly Economic Report (MER) of May 1 to confirm India’s economic slowdown, but telltale signs have been visible for a couple of quarters now.
At least two of the four economic engines—public investment (government investment in infrastructure and development) and internal consumption (goods and services consumed)—were still firing in the first half. The other two—external consumption (exports) and private investment—had gone bust years ago.
The first two engines were firing because, one, the Centre was still pumping resources into infrastructure-building. Two, despite the shocks of demonetisation and the Goods and Services Tax (GST), at least some parts of the domestic consumption economy, such as auto, consumer durables and FMCG, continued to grow at a healthy 15-16 per cent.
This story is from the May 20, 2019 edition of India Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the May 20, 2019 edition of India Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
BJP's Big Paschim Test
On paper, the BJP-RLD tie-up is a winner for the NDA in west UP, though the INDIA bloc thinks otherwise. The BSP's entry with mixed candidates can unsettle both alliances
Why Gen V Matters
The Way The 210 Million-Strong Generation Viksit Bharat Casts Its Vote Will Determine The Outcome Of This Election As It Has In The Past
Heart Stopper
Cushions with tales of beauty, serenity, art and nature
THE NIPPON NARRATIVE
Say konnichiwa to good design and sayōnara to bad aesthetics, as this apartment in Bangalore is a lesson in how to use Japanese design effectively
RURAL RESPLENDENCE
This second home in a small village in Uttar Pradesh brings to life the beauty and simplicity of locally sourced materials
Curves in the Right Places
Arches may be taking over interior design, but how and where you place them in your home can make or mar the look of the room
Marvels in Mud
Here's how this humble material is changing the way we look at eco-friendly homes in India
DESIGN FOR THE AGES
Five homes, five distinct design styles that help decode how to curate age-appropriate spaces
TAKE FIVE
FROM RUGS TO CUSHIONS, THESE DECOR PIECES WILL GIVE YOUR INTERIORS AN INSTANT MAKEOVER THIS SEASON
TRENDY TABLESCAPES
At the turn of the season, three fashion labels throw a soiree that is stylish, suave and sophisticated