Aug 31, 2017 08:01 PM IST | Source: CNBC-TV18
Ten months after demonetisation and just 2 months after the launch of the goods and services tax (GST), India’s growth rate has dropped to its lowest level in the Modi era.
The new financial year has begun on a shaky note — GDP is at 5.7 percent for the first quarter– this is the slowest pace of growth in the last 40 months. We are now back to levels that we have seen in the last UPA government.
But the more alarming number is Gross Fixed Capital Formation which is an indicator of investment, now stands at a mere 1.61 percent, while in the same quarter last year, this number was over 7 percent.
To analyse the reasons for this sharp deceleration in the growth rate, CNBC-TV18’s Latha Venkatesh in special show State of the Nation spoke with eminent panel – Mahesh Vyas, MD & CEO, CMIE, Shankar Acharya, Former Chief Economic Advisor, Rakesh Mohan, Former Deputy Governor, RBI and Soumya Kanti Ghosh, Group Chief Economic Advisor, SBI.
For the entire discussion, watch video