Why did India take a far bigger COVID-hit to its GDP than other major economies in the world? How and why did the fastest growing economy legitimately aspiring for higher growth and prosperity flounder, ending up in a big economic mess and robbing millions of aspirational Indians of their dream?
That growth had slowed down even before the pandemic hit and an untimely, unplanned and sudden lockdown delivered the knockout punch is known. That there have been many economic misadventures in the past six years that put a heavy cost is often lost sight of. Those misadventures deserve to be retold and reassessed to save India from a further encore.
The best way to begin this is to take a close look at the GDP growth ever since the incumbent government took charge. The graph below highlights some of the key misadventures that shocked the Indian economy.
New GDP 2011-12