Debates on the state of the economy are often waylaid by conspiracy theories and lost in minutiae of data. The GDP estimates also reveal a robust growth in manufacturing and construction—again validated by growth in earnings and, of course, the stellar rise of the stock indices. The estimates also signal a slowdown in velocity and momentum of growth—the end-of-year projection 7.6 percent suggests GDP growth in the fourth quarter would be sub-6 percent. India’s economy is poised at the intersection of known knowns and known unknowns. Shankkar AiyarAuthor of The Gated Republic, Aadhaar: A Biometric History of India’s 12 Digit Revolution, and Accidental India(shankkar.aiyar@gmail.com)

Source: Indian Express March 03, 2024 02:03 UTC