Can the Indian economy sustain its momentum?
- Policymakers must urgently focus on reviving manufacturing if the impressive growth is to be maintained
There’s cheerful news on the economy at last. Official estimates released last week show India’s GDP grew 6.1% in the fourth quarter of 2022-23 (FY23). The higher-than-expected growth lifted the full-year growth to 7.2%, rendering almost all projections pessimistic, including those of the Reserve Bank of India (RBI), which had predicted 6.8% growth.