Chief Economic Adviser V Anantha Nageswaran attributes India’s recent 8.4% GDP growth to more than just subsidies, indicating underlying economic momentum. While subsidies played a role, sustained growth in previous quarters and positive indicators suggest intrinsic strength. Nageswaran advocates for achieving the “desirable” 8% growth rate through economic reforms, such as labor and land policies. He anticipates growth surpassing the conservative forecast of 7.6%, aligning with central bank Governor Shaktikanta Das’s optimistic outlook. Increased infrastructure spending by Prime Minister Narendra Modi’s government has further boosted India’s growth potential.
India’s Economic Momentum Surges Beyond One-Off Factors
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