The fact that the GST collections have failed to meet their target, month after month and that the unrealistic income taxcollection targets are being met through rough and harsh collection tactics even in the matter of disputed taxes in appeal (and by refusing to give refunds to tax payers), that the corporate performance and earnings have been poor, and that India’s GDP growth declined again in the previous quarter, only means that the Indian economy is yet to get into a durable and sustainable growth momentum. Growth of the economy remains patchy and has been largely spurred by government spending. Private sector investment is missing. The estimated GDP growth for the current FY ending on 31.3.2019 at 6.98% means that India would have recorded its slowest growth in the last five years.
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