Eco Survey paints a bright medium-term outlook after an unpredictable year

It says once the global shocks of the pandemic and 2022's unpleasant spike in commodity prices fade away, the Indian economy is likely to record a faster growth during the rest of this decade

The much-awaited Economic Survey 2022-23 projects a baseline real gross domestic product (GDP) growth of 6.5 per cent for fiscal 2023-24 (FY24), in the range of 6-6.8 per cent, depending on global economic and political developments. India is clearly a bright spot on a lacklustre global stage; indicators of domestic economic activity remain uneven but are showing signs of strength, particularly those pertaining to the services sector. We are hopeful that what started as pent up demand in some sectors is now on the cusp of being sustainable consumption.

However, we are somewhat circumspect regarding the extent to which Indian