Gangbusters or busted?

In January, the International Monetary Fund (IMF) "predicted a dip in the Indian economy from 6.8 percent in 2022 to 6.1 percent in 2023. But India's economy is expected to grow at 6.8 percent again in the financial year 2024." HT. So, "India remains the fastest-growing economy in the world with the current estimates surpassing growth in emerging and developing Asia as well as projections on China's economy." "Davos 2023: Even though economists and business leaders around the world are worried about a global recession, there is a strong sense that India will sail through the crisis as it is well-positioned to drive global growth in 2023." BT. "Union Commerce Minister Piyush Goyal...predicted that India would become the third largest economy in the next five years. Goyal also said that if India continues to grow like this, it will become a $40 trillion economy by 2047 - the centenary year of India's independence." ET. Potentially, the richest country in the world. "In his 2022 Independence Day speech, PM Modi outlined an ambitious (some might say outlandish) goal for India in 2047 - the status of a developed country," wrote economist Surjit S Bhalla. Is it achievable? Absolutely, says Bhalla. "If India's per capita income in constant PPP (purchasing power parity) dollars grows 4.1% annually, a very realistic prospect, it will be in the advanced economies club in a quarter of a century." "The Union Budget's focus on capital expenditure is expected to crowd-in private investment and push the GDP growth rate close to 7 percent in the next financial year beginning April 1, said a Reserve Bank (RBI) article on 'State of the Economy'. BS. "We believe that India will decouple from macroeconomic projections of current vintage and also from the rest of the world. In our view, the instrument of decoupling will be the Union Budget by raising India's growth prospects over the period 2023-27; raising India's potential growth," the RBI's article. One budget, growth for five years. Ingenious. Even, "Nouriel Roubini, a professor emeritus of Stern School of Business, New York University - who earned the nickname 'Dr Doom' after famously predicting the 2008 US subprime crisis - recently said India could realise a growth rate of 7% or even higher over the medium term with the right policy interventions, and its economy would likely expand at a faster pace than China's over the next decade." ET. After all the hype, "India's economic growth appears to be 'very fragile' and it may fall short of what the country needs to meet the aspirations of its growing workforce, RBI Monetary Policy Committee (MPC) member Jayanth R Varma said." TOI. He even voted against the tiny 25 basis points rise in interest rate, RBI, even though retail inflation jumped to 6.52% in January from 5.72% in December. Reuters. Presumably soaring prices will help the "aspirations of its growing workforce". So, is India growing gangbusters or is the economy bang-busted? Can't be both.