QUALITY AND QUANTITY OF JOBS A CONCERN

IT is the season of GDP growth revisions. Several agencies have duly revised India's 2023-24 GDP projections upwards to 6.2-6.7 percent. India remains one of the bright spots at a time when large economies such as China, the UK and Europe are witnessing either a slowdown or are staring at a possible recession.

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In contrast, preliminary estimates indicate India's second quarter GDP to increase by about 6.5 percent on the back of a decent first-quarter recovery. If the ongoing festive season sales should spur domestic private consumption, the sustained increase in government capital expenditure, along with the likely takeoff of the private investment cycle, should keep the growth momentum going during the rest of the fiscal.