Repo rate was raised by 250 basis points between May 2022 and February 2023. Robust growth to provide space for monetary policy to remain focused on bringing inflation down to 4% target.
India’s capital market stood out despite global headwinds. Consumption showed uneven growth. Some high frequency indicators point to resilience in urban demand, but rural demand a concern.
And despite a 0.8% contraction in the agricultural sector, the overall Q3 performance has prompted an upward revision in full-year growth estimates to 7.6% in the 2nd Advance Estimates.
The growth rate was much faster than economists' forecasts of 6.6% as seen in a Reuters poll, and higher than revised growth of 8.1% in the previous quarter.
He also noted the 15th Finance Commission cut Karnataka’s share in central taxes ‘too drastically’, much more than other similar-performing southern states.
The domestic economy continues to show resilience as reflected in the robust growth projections for the coming year. However, global challenges could pose headwinds...
In article published in Economic & Political Weekly, he said data from ‘Hindu period’ of 1-1000 AD shows per capita GDP & population growth were both stagnant, no better than world’s.
White paper also stresses on how Centre has sought to strengthen states amid protests over tax sharing policy. Introduction of GST was much-needed structural reform, it adds.
In an India that was post-Mughal but pre-British Raj, diplomacy, popular religion, and a constellation of genius painters created the most spectacular Ramayana adaptation ever.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
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