December 29, 2017
Saugata Roy asks a question on economic growth
The minister has given a detailed reply to the question which showed that India’s growth rate plummeted to an all-time low 5.2% in Q1 of 2017-18, to show only a small rise in Q2. This fall in GDP growth was anticipated.
The minister has listed a number of steps which are being taken to improve the GDP growth which is in a bad situation. Now mainly he has emphasised on the money being spent in infrastructure, that is, roads, ports, etc. But when the economy hits a low, one thing that is expected is the introduction of financial stimulus. From the steps taken by the minister, I don’t see that any financial stimulus in particular is being taken in order to especially boost the manufacturing sector which in Q1 went down by as much as 1.2%.
May I ask the hon minister that, apart from the steps listed here, what further financial stimulus is he hoping to take for the economy to take us out of the rut that we are in?
One former governor of the Reserve Bank of India has said that the economy is not expected to recover for two years from the after-effects of the hurried GST implementation.
Thank you, Madam.