 "Best of BS Opinion: Momentum continues, building the fighter fleet & more")
The Indian economy in the second quarter (July-September) grew 7.6 per cent, above analysts’ expectations of around 7 per cent. Given that the Reserve Bank of India’s full-year growth projections have been set at 6.5 per cent, the Q2 expansion implies a significant slowdown in the second half of the year, though these projections may be revised in the light of a revival in private investment. The real concern, however, could be nominal growth which has been low on account of the weak wholesale price index-based inflation rate. The implication is that persistent low nominal growth could skew the government’s fiscal deficit targets if the trends persist in the second half of FY24. A possible reduction in capex to contain the fiscal deficit could have a direct impact on growth and end up complicating problems even further, the top edit points out. Read it here
In other views:
Ajai Shukla explains why the IAF’s acceptance of indigenous defence systems marks a positive shift in strategy. Read it here
Vandana Gombar discusses the jump in fossil fuel demand by the US, India and China. Read it here
The second edit says testimonial ads by coaching institutes should be curbed. Read it here
QUOTE OF THE DAY
‘If someone’s going to try to blackmail me with advertising, blackmail me with money, go f**k yourself’
Elon Musk to corporations that pulled advertising from X for anti-Semitic comments