The Daily Brief Is India’s Economic Growth Slipping?
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Feb 24, 2025 The discussion dives into the shifting dynamics of India's economy, with a focus on rising workforce participation in urban areas against rural setbacks. Key economic indicators, like declining GDP growth and consumer confidence, raise questions about systemic issues. The podcast explores growth factors such as trade deficits and the effectiveness of government spending since 1991. It also highlights the strategic shifts in India's imports, especially from palm oil to soya oil. Overall, it paints a complex picture of economic resilience and challenges.
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India's Economic Performance
- India's FY24 GDP growth was 8.2%, contrasting with global economic struggles.
- However, growth dipped to 6.7% in Q1 FY25 and further to 5.4% in Q2, sparking debate.
Mixed Economic Signals
- Economic indices show neither boom nor significant shrinkage, suggesting relative stability.
- Some research even suggests recent acceleration, while consumer confidence surveys reveal mixed sentiments.
Employment Trends
- Organized sector employment grew significantly, but overall unemployment remains around 8%.
- Rural areas face difficulties, with increased reliance on MGNREGA despite fewer jobs offered.