New Delhi, March 6 -- India's GDP during the three months ending in December grew at 8.4 percent. This is the highest among all large economies of the world. It is extremely heartening to have the economy growing at a relatively healthy pace for three years in a row after the pandemic. It brought good cheer, and the stock markets responded resoundingly. The stock market index keeps attaining new peaks, indicating investor optimism. The slew of announcements, such as approval for setting up of 15 billion dollars of investment in semiconductor manufacturing speaks of the enthusiasm and confidence of a bright outlook for the economy.

It is important to go "below the hood" to understand the significance of the headline of 8.4 percent growth ...