India’s latest GDP (gross domestic product) numbers flatter, though they don’t deceive — because the underlying story is a good one. The flow of quarterly GDP numbers should probably come with a warning: Fragile, handle with care! To understand why, consider the latest set of numbers, which deliver GDP growth of 7.6 per cent for the July-September quarter. And pick the sectoral number that principally supports that upbeat total: Manufacturing sector growth of 13.9 per cent over a year earlier, unusual in itself and well above the growth rates for other sectors.
It so happens that the corresponding quarter a year
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