India needs to rework on ITS RTA strategy to revive exports
By: Singh, Rishika and Nataraj, Geethanjali
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Material type: 
BookPublisher: IIPA Digest: Building Capacity for Governance Description: 02(04), Oct-Dec, 2020: p.38-39.Subject(s): Global pandemic, GDP, FTA, Free trade agreements
In:
IIPA Digest: Building Capacity for GovernanceSummary: T he global pandemic has wreaked havoc on the world economy and India has unfortunately been one of the worst affected countries right behind the United States. Only last year India was one of the fastest growing emerging economies targeting to become a dollar five trillion economy. But since the onset of the pandemic, the economy suffered a staggering contraction in first quarter during 2020. The depressing figure of 23.9 per cent is a major alteration in India’s growth path whose average is at 6.8 per cent. As economic activity across spectrum of sectors has grinded to a halt, negative growth rate has spurred. Even as government expenditure as a share of GDP went up from 11 per cent to 18 per cent, the economy could not be rescued from an expected seven per cent overall contraction, estranged from an average positive growth of seven per cent since delicensing. Infact, the GDP growth this financial year is expected to be the worst post- World War II. - Reproduced
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Articles
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Indian Institute of Public Administration | 02(04), Oct-Dec, 2020: p.38-39 | Available | AR125128 |
T he global pandemic has wreaked havoc on the world economy and India has unfortunately been one of the worst affected countries right behind the United States. Only last year India was one of the fastest growing emerging economies targeting to become a dollar five trillion economy. But since the onset of the pandemic, the economy suffered a staggering contraction in first quarter during 2020. The depressing figure of 23.9 per cent is a major alteration in India’s growth path whose average is at 6.8 per cent. As economic activity across spectrum of sectors has grinded to a halt, negative growth rate has spurred. Even as government expenditure as a share of GDP went up from 11 per cent to 18 per cent, the economy could not be rescued from an expected seven per cent overall contraction, estranged from an average positive growth of seven per cent since delicensing. Infact, the GDP growth this financial year is expected to be the worst post- World War II. - Reproduced
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