New Delhi: India’s economy is expected to grow 7.3% In the current financial year ending in March, driven by strong Production, Construction and expanding mining sector – a stellar performance against the backdrop of a slowing global economy and geopolitical turmoil.
The first advance estimates released by the National Statistical Office on Friday showed that the economy is projected to outperform the RBI’s estimate of 7% for 2023-24 and grow at 6.5%, higher than the earlier estimate.
The strong second quarter performance of 7.6% had prompted several agencies to upgrade India’s growth projections, citing strong domestic demand. India remains the fastest growing major economy in the world, as China’s growth has slowed due to a number of problems, including problems in the real estate sector. The strong data comes ahead of the interim Budget on February 1 and the Lok Sabha elections in May and is likely to bolster the government’s record of handling the economy against the backdrop of global turmoil.
