Yesterday, the Government of India unveiled the provisional estimate of the Annual GDP for the fiscal year 2023-24, along with the quarterly GDP figures for the final quarter. The reported growth rates of 7.8% for the quarter and 8.2% for the year are sure to instill a sense of pride and optimism among Indians. This article aims to delve deeper than these headline figures by exploring the underlying factors driving India’s GDP growth. We will examine whether these factors are sustainable and what risks might threaten this growth trajectory. By taking a closer look at the data, we intend to present a narrative driven by numbers, free from personal biases and judgments. Let’s dive into the analysis without further delay.
GDP Constant – % Yearly Growth
The chart below illustrates the yearly percentage growth of Indian real GDP since FY-13, revealing significant trends and shifts.
