India's GDP growth is impressive, but can it be sustained?

India's GDP data was keenly awaited, coming on the back of sovereign rating outlook upgrade by S&P and just days before the union election results are out. Indeed, it has surpassed market expectations, with a growth of 8.2 per cent in 2023-24 as against 7 per cent in 2022-23. It is to be noted that the growth in 2023-24 is much higher than MOSPI's second advance estimate of 7.6 per cent released in February. While overall GDP growth is impressive, it is important to understand some of the nuances of the data to infer the sustainability of the growth this…