2nd December 2023 (7 Topics)
1
Dec
2
Dec
4
Dec
5
Dec
6
Dec
7
Dec
8
Dec
9
Dec
11
Dec
12
Dec
13
Dec
14
Dec
15
Dec
16
Dec
18
Dec
19
Dec
20
Dec
21
Dec
22
Dec
23
Dec
25
Dec
26
Dec
27
Dec
28
Dec
29
Dec
30
Dec
Patchy expansion
Context:
A broad growth base is a must to sustain momentum and reduce inequality.
Economic Growth Trends
- Moderate Economic Growth: India's GDP for Q3 shows a slight dip to 7.6%, with Gross Value Added at 7.4%, signaling a moderate slowdown.
- Sectoral Variations: Robust growth in manufacturing and construction, but agriculture and services, especially post-pandemic, experience significant slowdowns.
- Mixed Services Performance: Trade, hotels, transport, and communication sectors show a marked decline, raising concerns about the post-pandemic recovery of services.
Government’s Role
- Private Consumption Decline: Lynchpin private consumption expenditure drops to 3.1% in September quarter, impacting overall economic growth, and signaling rural demand challenges.
- Government-Led Growth: Economic momentum attributed to front-loaded government spending, both in consumption demand and capital investments, requires broader growth strategies.
- Challenges for Policymakers: Policymakers face the task of sustaining and broadening economic growth to ensure equitable benefits and tackle growing inequality.
Policy Challenges:
- Dependency on Government Spending: The economic upturn relies on significant government spending, necessitating a shift towards a more inclusive and sustainable growth model.
- Addressing Rural Precarity: Agricultural and rural sectors face challenges, demanding policies to enhance stability and income security for those dependent on farming.
- Post-Pandemic Service Sector: Services, hit by a slowdown, need special attention for a robust recovery post-pandemic, necessitating targeted policy interventions.
You must be logged in to get greater insights. click here to login
Courses
Study
Notes
Home
Resources
More
