When headlines are deciding political fate, Then even in calamity, the tendency to find opportunity and share happiness on it can be understood. however, The reality is so serious that even this festival did not get an opportunity to celebrate.
The Reserve Bank of India had estimated that India’s GDP growth rate would be 16.2 percent in the first quarter of the current financial year. All the pundits in the market had also estimated that this rate would be from 15 to 16 percent. Based on this, all preparations were made to celebrate the festival. Even if these conjectures turned out to be true, however, there was hardly anything to celebrate in it. Because that would have meant that the Indian economy has achieved an average growth rate of around 1.75 per cent in this quarter in the three years following 2018-19. In an era when the headlines are deciding the political fortunes, then the tendency to find opportunities in disasters and share happiness on them can be easily understood. However, the reality is so grim that even the government and the part of the media engaged in improving its image did not get an opportunity to celebrate this festival.
The actual figures came out that the growth rate was 13.5 percent. After this, the pink (financial) newspapers had to make headlines that the figures were weak. It also emerged from above that in July, the growth rate of the core sector fell to the lowest level of six months, registering only 4.5 percent. In the GDP growth rate that came out, it is worth noting that in the first quarter, imports registered a huge growth of six and a half percent, which contributed significantly to raising the GDP growth rate. While exports registered a growth of only 0.2 percent. This is by no means an indicator of a healthy economy. Rather, the increasing trade deficit is a matter of deep concern in every respect. This is putting pressure on the foreign exchange reserves. The contribution of expensive imports to inflation is well known. So now the need is to talk openly on the basic problems of the economy. Try to understand where the roots have become weak. This can happen only when the government overcomes the tendency to seek and propagate only positive news. Otherwise, every pleasure will continue to end in deep despair like this.
