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Indian Economy Maintains Positive Momentum, Affirms Ministry Of Finance
The Business Guardian
|April 29, 2024
In contrast to the global sceInacio, the Indian economy continues to exhibit strong economic performance with broad-based growth across sectors, the Ministry of Finance asserted.
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"The optimism regarding growth prospects is also reflected in consumer and investor perceptions," according to the Monthly Economic Review report of the Department of Economic Affairs under the Finance Ministry.
Many international organisations assert India's pivotal role in determining the growth path of Asia in the coming years, the review report said.
The Reserve Bank of India also, in its latest Monetary Policy Committee meeting,noted the strong growth momentum in the economy and projected real GDP growth for 2024-25 at 7 percent, driven by a pickup in rural demand and sustained momentum in the manufacturing sector.
The International Monetary Fund, in its latest report, forecasted India's growth at a high of 6.8 percent in 2024-25 and 6.5 percent in 2025-26, based on its assessment of continuing strength in domestic demand and a rising working-age population.
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