INDIA'S ECONOMIC GROWTH TO ACCELERATE: DELOITTE

The report highlights the significance and future implications of monetary policies pursued in the West

- 

Deloitte India recently released its economic outlook, projecting India’s growth for the current fiscal year ending 31 March, 2024. According to the report, India is expected to grow between 6% and 6.3% during FY 2023-24. This growth is attributed to the country’s strong economic activity, buoyant urban and rural demand, and improving investment climate.

The economic outlook notes that India is currently experiencing a “Goldilocks moment,” where the conditions seem just right for growth. The urban demand has remained resilient, as evidenced by the sales of mid-to-high-end automobiles, the increasing number of UPI transactions, and a rise in domestic air passenger traffic. Moreover, rural demand, which was lagging, has also been on the rise recently, seen in the increased sales of tractors, IIP non-durable goods, and MGNREGA data.