Even as the finance minister Nirmala Sitharaman soon after the announcement of her maiden Budget on July 5, 2019 took a slew of measures ranging from a cut in corporate tax rate, roll back of surcharge on super rich, continued with its monetary easing, went on to consolidate PSU banks, the economy is reeling under the worst slowdown in a decade with GDP growth easing to an 11 year low of barely 5% in FY20.
Budget 2020: Economic Indicators Performance Since Budget 2019
Consumer inflation measured by way of CPI index for the month of December 2019 even breached the RBI's comfort target of 4% to 7.4% mainly on account of a consistent rise in vegetable prices.
Bank credit growth also declined to an over 2 year low to 8% in November 2019.
IIP or Index of Industrial Production climbed in the month of November to 1.8% after having contracted by 4% in the previous month.
The estimates of nominal growth in FY20 of 7.5% is the lowest since 1975-76 as per the FY12-based GDP series.
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