India's private consumption expenditure is at a several-year low, hurt by rising unemployment and lower disposable income. Rising food prices only impacted households adversely. In its third term, the Modi-led government has one more chance to set things right
Applicants standing in queue to appear in the Indian Army Agniveer Exam at an examination center, Pataliputra on April 23, 2024 in Patna, India. Unemployment rate increased in April alongside a fall in the labour participation rate (LPR), Centre for Monitoring Indian Economy data shows.
Image: Santosh Kumar/Hindustan Times via Getty Images
India’s climactic general elections drew to a close after a thrilling battle on June 4. The Bharatiya Janata Party (BJP), led by Prime Minister Narendra Modi, failed to get a majority, but after swift negotiations with its coalition partners, it returned to power for a third term through its NDA (National Democratic Alliance).