For me this is the greatest news of the week. As INR (indian rupee) keeps plunging as against the US$, with the oil prices surging, with war opening new fronts amid Saudi and H*uthis, we need a story like this to pep up our life! A 7.8% growth story is not only credible, it is perfectly feasible given the kind of colossal real time economic machine we keep running in India operated by our masses. Our small scale industries and retailers are going on record for the first time in many a case. Industrial assessments and audits are carried out by advanced methods with scientific precision. So why not.
Kudos to BJP govt headed by PM Shri Narendra Modi ji who has made this possible for the nation. India is in good hands. Congratulations to all our citizens and government.
We individuals keep tracking our personal credit rating. Nations having a good reliable credit rating is a healthy trend. Sound economy automatically secures a nation in and out.
Skeptics (read leftists) are forever the party poopers. I don’t doubt India’s GDP posted at 7%+. As experts aver, computations are making use of inclusive data from hitherto unavailable sectors and service areas only in recent times. For instance, UPI by itself is tracking the economic growth of the day labourers, daily wage earners, small retailers etc., data of which was not reliable if not available earlier for lack of evidence/documentation. The volume of input statistical data is seeing a steady increase in India which directly contributes to nearly accurate representation of our GDP growth in present times.
Similarly, I recently answered Population census Round 1 (door to door exercise) conducted by Modi govt. Only round 1 remember. Rounds 2 and 3 are pending. The type of questions asked this time: (1.) how many bedrooms and how many bathrooms you have in your house (2.) whether your house is leased or rented or owned (3) what is the flooring of the house (4) what is the wall paint (3) do you have a laptop (6) do you use broadband wifi or only the phone internet (7) aircons/electronics at home (8) do you use only LPG gas stove or do you own an electric induction stove etc., etc. I can remember only as much. I could see where this was leading. It is to determine the quality of life in India both urban and rural. Data pertaining to households are collected for census to arrive at the exact prevailing state/lifestyle of the Indian masses.
At industry/sector level, we must leave the matters to the experts who vouch on the methods of computation with adequate statistical data pouring in as a result of reforms carried out over years.
HOpefully markets will recover over time. Markets too are hardly representative of the real economic growth rate/industrial growth. Inflated markets overestimate economies. Right now in my layman opinion, Indian markets stand assessed at their best realistic value.
vijiravindran's 