https://www.wsj.com/articles/indias-economy-looks-shaky-under-the-hood-11c28fd0 Megha Mandavia
March 2, 2023 India’s economy slowed further in the December quarter, figures released this week showed, as postpandemic pent up demand ebbed and the country’s manufacturing sector continued to weaken. Asia’s third largest economy recorded year-over-year growth of 4.4% last quarter, down from 6.3% in the September quarter.
The International Monetary Fund still projects India will be the fastest-growing major economy in 2023—largely on the back of resilient domestic demand. This may turn out to be optimistic if private consumption doesn’t pick up the pace again soon.
Nomura economists Sonal Varma and Aurodeep Nandi think markets are still significantly underappreciating the risks to India’s growth. They say the country’s growth cycle has peaked, and a combination of weaker global growth and tight domestic and global financial conditions could spell further trouble for exports, investment and discretionary consumption. Foreign Funds Place Hopes on India https://www.wsj.com/articles/foreign-funds-place-hopes-on-india-11662468115
Foreign investors have started returning to Indian markets, but betting on the country’s resilience can be tricky
कहाँ जा रही है भारत की अर्थव्यवस्था? | Where is Indian economy headed? https://www.youtube.com/watch?v=gxi5nV9yyaE Ravish Kumar Official
Did India’s Per Capita Income Really Double Since 2014-15? And Is It a Reliable Indicator of Growth? https://thewire.in/economy/india-per-capita-income-gdp-growth 'Per capita income is only an indicator of an average. But the average hides the disbursal. And India has extreme inequality. So, it's not a good indicator of what's happening at the bottom 60-70% of the population,' economist Arun Kumar said.
On the doubling of per capita income, economist Jayati Ghosh told PTI, “You are looking at GDP in current prices, but if you account for inflation, the increase is much less.” She added, “Most of this increase has accrued to the top 10% of the population. By contrast, median wages are falling, and possibly even lower in real terms.” And this distribution, she said, is critical. Moreover, the NSO data doesn’t show how the wealth was distributed over these years.