The estimates of national income for final quarter of 2017-18 financial year has been released by the Central Statistical Office.
What are the findings from the estimates?
The estimates make it clear that the Indian economy is moving along a lower growth path.
While there was accelerated growth for the past few quarters, it is not so when the past four years data are taken into the reckoning.
The fact is that the annual rate of growth has first risen and then declined since 2014.
How these findings can be interpreted?
When an overall view is taken, it can be found that there is no much difference between earlier and present annual growth rates.
Actually, by a certain calculation, the annual growth are exactly the same in the UPA as well as in the NDA regin.
And it is hardly difficult to conclude that the NDA has not done much better than its predecessor as far as the growth of the economy is concerned.
This government has generally prioritised production over other aspects of the economy and it has reflected in its attention to the ‘ease of doing business’ and its flagship programme ‘Make in India’.
Even though production was focussed to improve incomes and employment, the growth and the level of employment in the country are hardly satisfying.
