The Economic Survey normally paints a picture of the economy over the past fiscal, even as it seeks to forecast the outlook for the coming year. This year's assessment has been eagerly awaited, as the forthcoming budget will be the last for a full year by the incumbent government, and projects a mood of confidence and optimism in the run-up to the elections in 2024. The Survey asserts that recovery from the pandemic has been "complete" as the country remains the fastest-growing major economy in the world.
The Survey expects growth in real terms to moderate from 7 per cent in 2022-23 to 6.5 per cent in 2023-24. The International Monetary Fund has buttressed the survey's upbeat outlook by pegging India's growth at 6.1 per cent in 2023 as compared to the global estimate of 2.9 per cent. It has gone on to forecast 6.8 per cent for FY 2025.
This story is from the February 01, 2023 edition of The Free Press Journal.
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This story is from the February 01, 2023 edition of The Free Press Journal.
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