New Delhi, Aug. 3 -- High-frequency economic indicators suggest that the current economic slowdown is likely to worsen. The core-sector industry index grew just 0.2% in June. India's biggest car maker Maruti Suzuki reported a 36% annual decline in car sales for the month of July. The stock market has gone into a tailspin after the budget was unveiled on July 5.

How bad are things right now? A long-term comparison of key economic indicators shows that things have been worse.

GDP first. It has been going down for four consecutive quarters beginning June 2018. If the June 2019 GDP growth numbers are lower than the 5.8% value for March 2019, then we would have had a decline in GDP growth for five consecutive quarters. Since June 1997, there h...