India’s economic power has become a much-quoted metric ahead of Elections 2019. We separate three myths from reality
Now that we are officially in election season, one can expect a slew of report cards on the performance, economic and otherwise, of the ruling Bhartiya Janata Party (BJP) government. However, it’s not that easy to gauge economic performance anymore. Not only are many official numbers under a cloud, over the past couple of years, a small-scale industry fuelled by WhatsApp forwards has built up a narrative around India’s growth story. India here is an economic superpower, one of the best performers on the world stage.
For instance, every time India’s gross domestic product (GDP) growth slows down, we are presented with a counter: so what, we are growing faster than China. Or that India is the fastest-growing economy in the world. Or that this country is the sixth largest economy in the world. How true is this picture of India’s economic strength? To get a complete picture, one needs to pinpoint instances of bluster, as well as highlight nuances.
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