Amid the debate over India's latest GDP numbers, World Bank Executive Director Neelkanth Mishra has backed the 7.8% growth estimate, saying high-frequency indicators such as vehicle sales, tax collections and credit growth are consistent with the pace of economic expansion.
"The level of growth, in my view, represents accurately what I think is unfudgeable, meaning, you know, car companies are reporting data, the government is reporting tax collection, they don't want to fudge that. It is very consistent with this type of growth, and therefore, I have no doubt," Mishra told CNBC-TV18 in an interview.
In a post on X, Mishra said fading fiscal headwinds and accelerating credit growth were turning into tailwinds for the economy, adding that the latest GDP data should push consensus trend-growth estimates to above 7%.
"That is, with a neutral fiscal and monetary policy, the economy should still register 7.5% growth," Mishra said.
Amid the debate over India's latest GDP numbers, World Bank Executive Director Neelkanth Mishra has backed the 7.8% growth estimate, saying high-frequency indicators such as vehicle sales, tax col...