Representational image
Representational image

New Delhi : Post-demonetisation and implementation of the Goods and Services Tax (GST), the current economic slowdown has “bottomed out” and the recovery of the economy would “critically depend on the initiatives” the government takes from now onwards, according to a report released on Monday.

The report also said the quantum of impact of the structural reforms – demonetisation and GST – was expected but the quantum was not estimated and hence the current slowdown in the economy is painful.

“We believe that the slowdown has bottomed out, however, the stage and pace of recovery would critically depend on the initiatives that the government takes from now onwards to boost the growth momentum, especially the private sector investment, without which we will not be able to aim for an ambitious growth rate,” said Arun Singh, Lead Economist Dun & Bradstreet (D&B) India.

According to D&B Economy Observer, the rebound in industrial production, especially in capital goods is not just driven by festive-led demand and is on a sustainable basis.

(For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal