Active Stocks
Mon Apr 15 2024 15:59:36
  1. Tata Steel share price
  2. 160.90 -1.59%
  1. ITC share price
  2. 425.90 -0.98%
  1. State Bank Of India share price
  2. 757.75 -1.17%
  1. ICICI Bank share price
  2. 1,078.80 -2.30%
  1. NTPC share price
  2. 361.35 -0.08%
Business News/ Economy / Economic Survey pegs GDP growth in the range of 6-6.8% for FY24, slowest in 3 years
BackBack

Economic Survey pegs GDP growth in the range of 6-6.8% for FY24, slowest in 3 years

The read GDP growth is seen at 7 per cent in the current fiscal and 6.5 per cent for FY24, the economic survey stated

Indian Finance Minister Nirmala Sitharaman. (REUTERS)Premium
Indian Finance Minister Nirmala Sitharaman. (REUTERS)

The Economic Survey for 2022-23 has projected a GDP growth rate in the range of 6 to 6.8 per cent for the next fiscal 2023-24 (FY24), as against a projected growth of 7 per cent in the current financial year, according to the Economic Survey tabled in the parliament on Tuesday.

The read GDP growth is seen at 7 per cent in the current fiscal and 6.5 per cent for FY24, the economic survey stated.

Meanwhile, base-line nominal GDP growth is projected at 11% for FY24.

This comes on the back of the first advance estimates of the economy projecting a growth of 7 per cent. The International Monetary Fund (IMF) in its outlook has projected a growth of 6.1 per cent for the current fiscal and 6.8 per cent in 2024.

Union Finance Minister Nirmala Sitharaman will present the Union Budget tomorrow. The FM is expected to go for a fresh push for capital expenditure, especially for sectors like railways and roads, as she seeks to ensure that global headwinds don't take a toll on the Indian economy.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

ABOUT THE AUTHOR
Meghna Sen
Business journalist tracking markets, companies, economy and crypto for Livemint. She has 6 years of experience with online and print publications. Email: meghnasen08@gmail.com
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 31 Jan 2023, 01:04 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App