Growth in the world’s second-largest economy sank to 4 per cent over a year earlier in the final three months of 2021, government data showed.
Comfortable levels of systemic liquidity and softening of inflationary pressure have also lent stability to G-Sec yields in September 2021.
India’s exports too have shrunk by 11.6% and fell from $330 billion to $292 billion in the last two years.
It also said the recent sero-prevalence results signify that India can reduce the likelihood of severe illness due to COVID-19 if the country sustains the momentum of the vaccination programme.
While the economy’s slump can be explained through losses in income and employment, consumer confidence is something that would pose a greater challenge to recovery.
It can be noted that there has been a slew of reports lately about a stronger recovery being underway after the jolt caused by the pandemic.
Andhra Pradesh Chambers of commerce and Industry Federation meet Industry minister Goutham Reddy for industrial incentives
The members also said that trade and industry across the State was affected due to the global economic slowdown.
The Union Minister of Electronics and Information Technology stated that the government's policy interventions have made India an investor-friendly place.
Her attack comes after the GDP growth fell to 5 per cent for the quarter ending June, the lowest reported in over six years.
In a statement, the former PM said the last quarter GDP growth rate of 5 per cent signals that 'we are in midst of a prolonged slowdown'.
What led to the slowdown? Worryingly, six out of the eight broad indicators used in GDP measurement sulked in June quarter over last year with manufacturing witnessing the lowest growth at 0.6%.
Chidambaram was reacting to the Economic Survey-II 2016-17 which predicts that the economy may not be able to clock the growth rate of 7.5 per cent targeted in the pre-budget survey.