GDP growth materially slowed down starting FY18. It was ~4% in the year before the pandemic, and seems to be settling slightly above that after adjusting for base effects. This is despite a quiet burial of FRBM; our consolidated fiscal deficit to GDP at ~9% is among the highest in the world. Sadly, pliant media and business elites do little to bring this underperformance to light. I suspect that sustained growth for the next 2 decades requires the hard work of building social infra.
GDP growth materially slowed down starting FY18. It was ~4% in the year before the pandemic, and seems to be settling slightly above that after adjusting for base effects. This is despite a quiet burial of FRBM; our consolidated fiscal deficit to GDP at ~9% is among the highest in the world. Sadly, pliant media and business elites do little to bring this underperformance to light. I suspect that sustained growth for the next 2 decades requires the hard work of building social infra.