 "global growth, economic growth")
Recent optimism around India’s growth performance was further validated with the January-March 2023 growth printing at 6.1 per cent — higher than the government’s advance release (residual) estimate of 5.1 per cent. The economy is projected to have grown by a healthy 7.2 per cent in 2022-23, bringing the last two years’ average growth at a stellar 8.1 per cent.
But some context setting is warranted here. This seemingly high growth continues to be influenced by base effects due to the contraction in output seen during the pandemic years. For instance, Q1 growth in FY23 stood at 13.1 per cent, driven
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