Sir — This refers to the editorial, “Growth pangs” (January 8). Growth comparison with our neighbour will not be realistic as China has clocked Gross Domestic Product (GDP) growth in double digit consistently in the past decade or so.
Moreover, the kind of issues the Indian economy has faced in recent past, like the impact of demonetisation, the Goods and Services Tax, double balance sheet issues with both companies and banks having troubles, achieving a 6.5 per cent GDP growth should be considered a positive.
Yes, we should not let the figures rest there and instead, try and achieve more and touch even seven per cent or 7.5 per cent growth figures in the coming quarters. We should also not forget that the next Budget will be the last one before the General Election of 2019, keeping in mind the Government’s social sector spending and more farmer centric schemes which will help further their cause like getting them best of Minimum Support Price.
This will create a dent on fiscal deficit, which we could not match even in this financial year as far as budgeted figure of 3.2 per cent is concerned. The Government is in a very tricky situation. On the one hand, it has to support rural population and farmers. On the other it has to revive the economy.