Posted 12/27/2023, 4:36:17 AM
India's Economic 'Hat Trick' Marred by Job and Consumption Concerns
- India achieved a "hattrick" in 2023 of high GDP growth, reducing unemployment, and containing inflation
- However, there are concerns about the quality of GDP growth and jobs, with private consumption still weak
- Unemployment data shows more people leaving the workforce and poorer quality jobs being created
- Inflation has come down but still remains outside the RBI's comfort zone for over 4 years
- Global slowdown makes India's growth stand out more, but it still lags peers on per capita GDP and development