India, Sept. 6 -- India has every reason to take pride in strong economic expansion. The latest official estimate places real GDP growth at 7.8 per cent in Q1 FY2026-27. Yet the central question of "Growth by the Numbers" is not whether India is growing, but whether that growth is translating into broad-based prosperity. GDP measures aggregate production; it does not directly measure household welfare, income distribution, job quality or purchasing power.

The debate surrounding growth at 7.8 per cent in Q1 FY2026-27 illustrates the importance of comparability. Q1 FY2025-26 GDP at current prices was earlier reported at about Rs.86.05 lakh crore, while the revised comparable figure under the new 2022-23-base national accounts is approximat...