India, Oct. 15 -- The International Monetary Fund's endorsement of India's economic resilience should not come as a surprise to anyone. India's fiscal management, starting from the country's response to the Covid pandemic, where it scrupulously avoided the free-money relief measures announced by many western countries, has been commendable. Domestic demand and substantial investments by the government in public infrastructure have kept the country's growth engine chugging along at a time when India is negotiating US tariff action, supply chain disruptions caused by two wars, and an oil shock. The economy is expected to grow at over 7% not just this year, but next. That is no small achievement.

As the finance minister gets down to the bus...