View: How to pull the Indian economy out of the rut

The ministry of statistics and programme implementation’s (Mospi) release of India’s first-quarter GDP data showing a contraction of 23.9% deserves a sharp intake of breath. With ‘Unlock 4.0’ in place and the future still uncertain, India does find itself in a hard spot.Given India’s GDP is 60% reliant on domestic expenditure, the economy felt the double whammy of demand and supply shocks under lockdown.But domestic demand will also be the