Srinagar, Sept. 15 -- Exactly a year back, we had predicted an imminent V-shaped recovery in GDP growth after its sharp decline. At that time, most doubted the prediction. A former Finance Minister wrote "In a barren desert without any sign of water, the Finance Minister and the Chief Economic Adviser saw green shoots!" His lack of nuanced understanding was of course clear from the statement "about one quarter of the gross domestic output as on June 30, 2019, has been wiped out in the last 12 months." Unlike the level of water in a tank, GDP is not a measure that captures the level of stock. Instead, like the amount of water flowing over a period of time, GDP measures the flow of economic activities in a period of time. Only if GDP were a...