India's direct tax revenue for fiscal year 2023-24 showcased impressive growth, reaching ₹19.58 lakh crore, a 17.7% increase from the previous year and surpassing both original and revised budget estimates, signaling a robust economic performance.
External member Varma believes that a real policy rate of 1-1.5% is sufficient to glide inflation to the target. The current real rate of around 2% risks an unwarranted growth sacrifice.
Krishna Srinivasan, the Director of the IMF's Asia and Pacific Department attributed India's impressive growth to robust private consumption and public investment