India Story Just Got Better

Within a week (31 Dec.-7 Jan), the UPA Government has revised the GDP growth estimates for both, the previous fiscal as well as for the current year. The FY04 estimate was raised from an already impressive 8.2% to an even better 8.5%, and the forecast for FY05 was raised from 6-6.5% to 6.9%. The improved performance for the previous fiscal is not surprising, as it was on a low base, and a bumper harvest. But, to have an economy grow at nearly 7% on an extremely high base is just superb. What makes the upward revision in the current fiscal