Economy is expected to show same rate of yr-on-yr expansion for 2023-24 financial year, she added, citing impact of improved inflation management & macroeconomic stability.
While activists also say the number of work days should be increased, they stressed it could be done only if adequate funds were allocated for the scheme.
Govt's first advance estimates peg India’s nominal GDP growth at 8.9%, lowest since Covid-hit 2020-21 & lower than 10.5% assumed at start of year. This could put pressure on fiscal deficit target.
India's growing at more than twice the speed of global economy, and doing better than any other large economy, but longer-term problems with country's statistical system & data base remain.
Many including Union ministers cited still from YouTube livestream of 'real time GDP data' to celebrate India becoming '$4 tn economy'. But govt data shows claim is unfounded.
According to International Monetary Fund’s World Economic Outlook, Indian govts spend about 28% of GDP, which is more than many countries. But greater spending hasn't delivered better infra.
Visiting Professor Ashoka Mody says India chose to ‘dismiss inconvenient truths’ about GDP data to look good. Where was criticism when the economy tanked during COVID, asks govt.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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