Are Atmanirbhar and Garib Kalyan Working?

| August 24, 2020

 

Unemployment is at a 46 year high. Manufacturing has slumped, consumption expenditure has plummeted, states are nearly bankrupt while the centre delays payment of GST dues. Farmers are not getting fair prices for their crops, Bank NPAs have jumped to over 10 lakh crores (up from 2 lakh crores in 2014), and so on and so forth. Assuming Corona has impacted all economies of the world, the Indian economy should have been faring relatively better compared to the others. Yet the Economist recently said that India is no longer among the fastest growing economies in the world which it was till 2015. This was the situation before Corona hit. Now the government has rolled out a series of packages that have captured the headlines. These packages have been touted as silver bullets. सब चंगा सी as we were told! But is it really so?