View: The one direction for the economy to move is up — provided government does its bit – Economic Times

By Mythili Bhusnurmath Whichever way you look at it, GDP data for the first quarter (April-June 2020) of the current fiscal is unambiguously bad. Barring agriculture, which grew 3.4%, every other sector contracted. Construction halved, trade was almost as bad at –47%, manufacturing declined 39.3% and, in the unkindest cut of all, public administration (a proxy for government expenditure) declined 10.3%. Not surprisingly, GDP contracted an