▶ THE ECONOMY SEEMS to be in better shape than anticipated. Growth prospects appear much brighter than earlier believed, and government finances are in better shape, with the fiscal deficit more manageable than expected.
Official estimates for gross domestic product (GDP) growth in the July-September quarter of financial year 2023-24 (Q2FY24), that were released on November 30, reveal that the economy grew at 7.6 per cent year-on-year against 7.8 per cent in Q1. It was significantly higher than the Reserve Bank of India’s (RBI) estimate of 6.5 per cent.
This growth was aided by a nine-quarter-high expansion in
