In this episode of Editorial, HW News Managing Editor Sujit Nair speaks on India's latest GDP numbers, what it shows, and the nuances you should be worried about.
Learn more about your ad choices. Visit megaphone.fm/adchoices
[00:00:00] While we say that GST has increased, manufacturing has increased, auto wheel industry is doing well, ultimately who is it all helping? Is it helping a common man? By the looks of it, no. Because the rich is getting richer, we all know. Ultimately, have you grown? Ask yourself this question. Today when you are watching this editorial, you ask yourself this question. Have you grown? Namaskar. Welcome to another episode of Editorial.
[00:00:33] So, we are very jubilean today. Why we are jubilean? Because our GDP has done exceedingly well. Our figures are very good. Okay, we actually made RBI's prediction. RBI predicted only 7%, FY 2027, quarter 1, only 7% April to June and we exceeded that. We are 7.8%. So, we are very happy. Is that a great achievement? It's a good achievement. Of course, it is a good achievement. No matter what, it is a good achievement. Okay, and kudos to our service sector.
[00:01:01] Our service sector and manufacturing sector too. But our service sector in particular did exceedingly well. Though our agriculture sector didn't do too good. But then, let me take you through some figures before I talk about what everybody is talking about, our great GDP figures and also what people are not talking about. What did the common man get out of all this? That's what my editorial is going to be. So, let's start with, first of all, what we achieved.
[00:01:28] Now, kudos to, like I told you, our manufacturing team. But let me take you through the graph. Our GDP this time around versus, I'm comparing this to quarter 1 of 2026 versus quarter 1 of 2027. Quarter 1 of 2027 did better than quarter 1 of 2026. That's the first thing. Second thing is agriculture didn't do too well. Last time it did better. This time we are not that good.
[00:01:53] Manufacturing, we did a little better than what we did last time. But as far as services are concerned, we did brilliantly well as far as GDP is concerned versus last time. Private consumption, we were almost the same, a little better this time around. And gross fixed capital formation, we are way better than what we did last time. That is quarter 1 of 2026.
[00:02:16] Exports also, which is a very good news. Exports also, we did exceedingly well. So, this is how our graph looks. Exports did well. Services did well. Manufacturing did well. Grass fixed capital formation did well. Kudos. Fantastic.
[00:02:33] Now, we should also congratulate this government is because end of the day, they have maintained that GDP numbers. Even through war, you know, we just came out of COVID. We got into a war. And even after the war, the GDP numbers have maintained. Our growth has been maintained.
[00:02:51] And like I said, 2023, June, we were 6.6%. 2026, June, we are 7.8%. So, we maintained our growth through all these hard times. So, this definitely, there is no doubt about it. It's a fabulous achievement. That said, our Prime Minister made the statement. Please hear it.
[00:03:33] The Prime Minister.
[00:04:15] The Prime Minister. The Prime Minister. Before we say, Jhoot ki goonj can't hide 7.8% at all, which is obviously correct. Jhoot ki goonj can't hide anything. That is also a fact. Jhoot ki goonj cannot hide anything.
[00:04:44] You see, while we talk about 7.8%. We should also talk about the fact that sugar stays about Rs. 60 per kg despite center's price control push. Retail rates up 30% in a month.
[00:04:59] Because sugar is about 60 per kg. India's sugar squeeze threatens its biggest season for sweets. Before Diwali, if this kind of price remains, this time around, even our sweets that we have for Diwali, we will be deprived of that.
[00:05:17] Someday, maybe one doesn't know. Maybe our good PM will come and say, don't eat sweets also. It is bad. That also could happen. Let me take you further. Milk at Rs. 102. That is Rs. 102 per liter is what milk is selling at. Rs. 88. Mumbai gets triple price shock from September 1st. From today. Today, we guys sitting in Mumbai, milk is Rs. 102. CNG is Rs. 88.
[00:05:44] So this is what Mumbai is going to face. Milk costlier in Tamil Nadu rises procurement price, wholesale price in Mumbai to cross 100. This is what I told you earlier on. Jet fuel price for second month. Commercial LPG cylinder gets Rs. 9.5. So that's where LPG cylinder stands. Smartphone prices rise as memory costs surge. Realme, Oppo, Vivo, Samsung, OnePlus hikes rates.
[00:06:13] So your mobiles are also going to get costlier. Grocery spends fall 8%. Rent jumps 21%. How GST 2.0 is reshaping India's household budgets in 2026. This was an article published on the 25th of August 2026.
[00:06:33] India's July inflation quickens to 4.45% from 4.38% stays above RBI targets. So while we bet the RBI targets on GDP, this somehow nobody talks about it. We also bet the RBI targets on inflation. That too happened. But of course, we don't speak about it. Let's talk about retail inflation. Retail inflation increased by 4%.
[00:07:03] 4.5% in July. Food inflation climbed to 5.5%. Telingana recorded the highest inflation amongst other states. Economists expects inflation to cross 5% in September. So while we seem to be talking a lot about reels and communicating to Gen Z and all that, let me also give you some more figures.
[00:07:23] You see, the Gen Z unemployment has hit a 15 month high. We are currently at 16.2%. This is the unemployment rate from the age group of 15 to 29. Let me tell you about some other figures. You see, female unemployment, female unemployment has now reached 20.7. Male unemployment is 14.6% but female unemployment is 20.7% in this country.
[00:07:52] Rural joblessness is rising fast. April, it was close to 12.5%. Today, it is almost 15.1%. So rural employment is shooting up. While urban employment seems to be more or less going steady, as you can see in the graph. But rural employment is shooting up. This is also a fact.
[00:08:16] While we say that GST has increased, manufacturing has increased, automobile industry is doing well, ultimately, who is it all helping? Is it helping a common man? By the looks of it, no. Because the rich is getting richer. We all know. By merely saying that GST has increased, collection has increased, that doesn't mean that India is completely, every Indian is doing very well.
[00:08:38] That too is a fact. While I am not putting, pouring water on the excitement, I still believe that we done a good job and we should continue to do it. Growth has to be there. But growth has to be inclusive growth. Growth. If a couple of families or a few super rich class grows, obviously, India, if you look at it from a macro level, it will see that India is growing. But is it actually growing? We need to ask these questions also. These are very, very important questions.
[00:09:04] So while we see a lot of memes and a lot of posters, you know, talking about how GST has grown, how manufacturing has grown, how automobile industry has grown and so on and so forth. You please understand. Ultimately, have you grown? Ask yourself this question. Today, when you are watching this editorial, you ask yourself this question. Have you grown?
[00:09:22] Has it made a difference to your life? If last year has made a difference to your life, your lifestyle, your personal disposable income, your safety in terms of what you have, what you save, what you get? Has it increased? Perfect. We are all happy. If it has not, then well, the numbers have grown. Happy. But end of the day, this achieves nothing for a common man.
[00:09:49] That's the point I wanted to make through this editorial. Till I see you next time. That's tomorrow at 10. Namaskar.
[00:10:18] We need to make the तो सोना भी नहीं खरिदना चाहिए हम जितना जादा स्वदेशी पर बल देंगे जितना आत्मन निर्भर पर बल देंगे मुझे पक्का मिस्वास है जब आज आदी के सो साल होंगे हम हमारी युवापिडी को विशित भारत सुप्रत करेंगे हमारी युवापिडी के सपनों को
[00:10:46] हम आज अपने परिशम से सातार करके रहेंगे और इसलिए आएए देश्वासियों हम पुर्शार्ट में कोई कमी न रफे हमारी नीती सही है हमारी नियत साथ है और 140 करोर देश्वासियों की शक्ति आज एक जुठ हो करके और संकत को सिद्ध कर लेके लिए
[00:11:16] मेरे साथ चल पड़ी बहुत बहुत शुप पामनाई बहुत बहुत बदाई