Economy growth hits a hurdle: Experts discuss

Signs of the Indian economy slowing have been gathering pace. The quarterly growth numbers for FY19 last year were 8 percent in Q1, 7 percent in Q2, 6.6 percent in Q3 and 5.8 percent in Q4.

The latest corporate earnings season also shows a decline in sales volumes in many industries like automobiles, consumer durables, jewellery, cement, steel and so on. Only personal products have done well. As if by cue, the stock market has wiped off all its gains of 2019.

The Reserve Bank of India (RBI) has cut rates in the past four meetings and the government in its interim budget in February announced an income transfer to small farmers which is extended to all farmers in the July budget. However, neither the rate cut nor the income transfer seems to have helped so far.