22 January, 2020
2 Min Read
Syllabus subtopic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
Prelims and Mains focus: about the two terms and their significance in determining the status of the economy
News: The Indian economy is going through tough times with the advance estimates for the rate of growth for real gross domestic product (GDP) for 2019-20 being pegged at 5% compared to 6.9% in 2018-19.
What have been the trend so far?
Does the combination of slowdown in the rate of growth of the economy and higher inflation mean that the economy is in recession or going through a period of stagflation?
The data is considered over a period of time and not just at one point or a few months for a contraction to be called an economy in recession or stagflation.
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