From “Stable Mediocrity” To “Unintended Consolidation”, Economists Decode Growth

Three top economists - Rathin Roy, Distinguished Professor at the Kautilya School of Public Policy; Neelkanth Mishra, Chief Economist, Axis Bank; and Soumya Kanti Ghosh, Group Chief Economic Advisor, SBI in an exclusive conversation with Rahul Kanwal, Executive Director, Business Today about the dip in GDP growth in the Jul-Sep quarter and the economic outlook. Listen to Neelkanth Mishra’s argument that the slowdown was due to “unintended fiscal and monetary consolidation” and Rathin Roy explain why “the economy continues on a path of amiable but stable mediocrity” and that a growth rate of 6-6.5% will have “terrible implications of jobs and investments in healthcare and education”. According to Soumya Kanti Ghosh, “In the past two decades, aspirations in India have moved higher from a growth rate of 6% to a rate of 7%”, and how a fall in capex by states could drag the economy down.