Indian economy will grow at 6.5% in FY24
PM EAC member shrugs off rate cuts by WB, ADB
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India’s supply side is now capable of driving growth over 8%. However, at a time when the rest of the world economy is rapidly slowing down, we will not be able to push growth too hard past the current level of 6.5% because growth of 8% type level would mean that our imports will dramatically go up at a time when our ability to push exports would be constrained by global demand —Sanjeev Sanyal
New Delhi: Indian economy will grow at around 6.5 per cent in the current fiscal and will continue to be the fastest-growing major economy in the world, notwithstanding a modest cut in growth projections by multilateral lending agencies, Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal said.
Sanyal further said that given the uncertainties in the global economy, India’s performance is clearly far ahead of any other comparable economy.
“ADB (Asian Development Bank) and World Bank have only modestly reduced the (growth) forecast for this year. Even after this reduction, India will still be the fastest-growing major economy in the world,” he told PTI.
