New Delhi, March 6 -- Estimates of gross value added (GVA) and gross domestic product (GDP) for 2024-25 were released last month along with revised estimates for 2023-24 and final data for 2022-23. The numbers for 2024-25 were broadly in line with estimates released earlier, with GDP growth placed at 6.5%, marginally higher than the 6.4% reported as part of India's first advance estimates.

However, numbers for earlier years were significantly revised upwards, with GDP growth in 2023-24 estimated at 9.2%, as against 8.2% reported in January. Similarly, GDP growth in 2022-23 was upped from 7% to 7.6%.

These upward revisions offer hope for a better economic performance than the gloomy picture presented by the January figures. While GDP est...