Is economy in a feel-good psychedelic state in India?


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After the Ayodhya high with the Ram Madir consecration ceremony, and the Narendra Modi government’s estimated growth for 2023-24 pegged at 7.3 per cent, which is higher than the 7.2 per cent of 2022-23, the declared aim of the Prime Minister that India will become the world’s third largest economy after the United States and China, and finance minister Nirmala Sitharaman’s confident declaration that India will become a $5 trillion economy by 2027, cannot easily be brushed aside as mere fancies. The seven per cent-plus growth is true, the $5 trillion target is within reach, and so is the 2030...