Synopsis
Recreating growth in the medium term is likely to come from sectoral strategies across 10 key sectors constituting most of India’s GDP. Dormant resources — both of enterprises and governments — must be put into service, requiring a special focus on balance sheets.
The ministry of statistics and programme implementation’s (Mospi) release of India’s first-quarter GDP data showing a contraction of 23.9% deserves a sharp intake of breath. With ‘Unlock 4.0’ in place and the future still uncertain, India does find itself in a hard spot.Given India’s GDP is 60% reliant on domestic expenditure, the economy felt the double whammy of demand and supply shocks under lockdown.But domestic demand will also be the
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