While this soul-searching is going on, we want to address the confusion that has erupted because of the steep slide in GDP growth in 2019-20. Some experts say that India is already back to its pre-liberalisation era of slow economic growth of around 3-5 per cent. But, per capita consumption of meat, eggs, pulses, edible oils, and even turmeric shows a healthy increase between 2011 and 2017. At the end, we just might be reaching the conclusion that the national account estimates of consumption and GDP growth have been fairly accurate. This article first appeared in the print edition on January 25, 2020 under the title “Separating fact from economic fiction”.

Source: Indian Express January 24, 2020 19:07 UTC