At the end of May the Central Statistics Office (CSO) released much-awaited estimates of national income for the final quarter of the 2017-18 financial year. The timing coincided with the completion of four years in office of the National Democratic Alliance (NDA) government. In a propaganda blitz, surging through the Net, the government embraced the GDP figures to declare that it has successfully “accelerated growth”. However, while this holds true for the past few quarters it does not when the past four years are taken into the reckoning. The facts are that the annual rate of growth since 2014 has first risen and then declined. By 2017-18 growth at 6.6% was less than the 6.9% it was in the final year of the second United Progressive Alliance (UPA) government.
Read the full story at http://www.thehindu.com/opinion/lead/an-unexceptional-economic-performance/article24116622.ece?homepage=true
SOURCE: The Hindu
