India's GDP Crash: Act of God? Or Act of Fraud? | The Deshbhakt with Akash Banerjee

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India's gross domestic product or GDP contracted by a massive MINUS 23.9% in the April-June period, that is what the official NSO data said. The data revealed that majority of the sectors are hit by a negative growth after the lockdown - making this the worst economic stump in India and also the in the world amongst big economies.

However in this edition of the deshbhakt we are going to take a look at how India's GDP was anyways on a downward spiral BEFORE the virus struck - making the cut deeper for India than any other country. Even before the lockdown, GDP growth was declining since the last eight quarters.

The Finance Minister has already said that this time, the decline in growth is an ‘act of God’ - however data shows that an act of Fraud has been committed and this depression is not going away any time soon.

ARTWORK - cartoonistsatish.com

Chapterheads -
0:00 - Zor ka Jhatka
1:30 - Act of God? Really?
4:17 - Taxes hit - clear indication
5:09 - Unemployment secret out!
6:01 - Rural Economy Down
6:41 - Cold wave over the economy
8:00 - No investment / No money to pay back loans
8:38 - Shrewd politics is NOT Shrewd Economics
9:18 - Ease of doing business? A jumla
9:51 - Tax terrorism - an unspoken reality
10:17 - Social unrest - India's Shame.
11:12 - Sab changa si - the solution to all problems

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Writer: Akash Banerjee
Editor : Tushar Chaudhary

****Resources*******

https://www.moneycontrol.com/news/business/india-gdp-data-live-updates-india-economy-coronavirus-covid-19-hit-business-5775151.html
https://www.hindustantimes.com/business-news/newsalert/story-VWNA8t2b2VPH8lKmDgM45L.html
https://www.bloombergquint.com/union-budget-2020/budget-2020-india-is-headed-for-its-biggest-tax-shortfall-in-a-decade
https://www.business-standard.com/article/economy-policy/gst-collection-in-september-declines-to-rs-91-916-cr-govt-data-119100101014_1.html
https://economictimes.indiatimes.com/news/economy/finance/the-pushback-over-delays-in-gst-transfers-by-the-centre-is-the-latest-instance-of-states-growing-assertion-on-the-fiscal-front/articleshow/72623644.cms
https://www.indiatoday.in/business/story/india-unemployment-rate-6-1-per-cent-45-year-high-nsso-report-1539580-2019-05-31
https://www.downtoearth.org.in/news/economy/india-s-unemployment-rate-doubled-in-two-years-soe-in-figures-64953

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