Posted 1/6/2024, 12:30:26 AM
India's Economy Poised for 7.3% Growth in 2023-24 on Investments and Spending, But Widening Trade Gap a Concern
- India's economy forecast to grow 7.3% in 2023-24 fiscal year, faster than RBI and IMF estimates
- Growth driven by over 10% rise in investments and 4% increase in government spending
- However, rising trade deficit becoming a drag; net exports in negative territory
- Manufacturing sector growth estimated at 6.5% in 2023-24, up from 1.3% last fiscal
- Agriculture growth likely to slow to 1.8% from 4% last year due to erratic monsoon