Reality check: 7% or 5%? What’s India’s true growth rate?

HOW do you spot an economic revival without poring through reams of statistics put out by the official number crunchers? It’s simple. Look around you: Are your neighbors dining out more, or has your friend bought a smarter phone?

Households spending more are early signals of the onset of an economy-wide revival. The clearest indications are available in any market or mall.