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Economy growth hits a hurdle: Experts discuss

Updated : August 15, 2019 10:20 PM IST

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.

In CNBC-TV18’s special series, Going for Growth, Latha Venkatesh spoke with Hitendra Dave, head of global banking & markets at HSBC India; Dr Pronab Sen, former chief statistician and Sajjid Chinoy, chief India Economist at JPMorgan to understand their analysis of the economy’s problems.
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