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HomeEconomyIndia sees GDP growth slowing to 6%-6.8% in 2023/24 - govt survey

India sees GDP growth slowing to 6%-6.8% in 2023/24 – govt survey

By Shubham Batra and Nikunj Ohri

NEW DELHI (Reuters) – India on Tuesday forecast its economy to grow between 6% and 6.8% in the fiscal year starting April 1, lower than the 7 percent as a global economic slowdown could hurt exports.

The government’s annual economic survey reports that its baseline scenario of /2022 growth is 6.5% in nominal terms, accounting for currency The forecast for the inflation rate is 11%.

The survey, which was tabled in Parliament by Finance Minister Nirmala Sitharaman ahead of the annual budget on Wednesday, is mainly the government’s opinion on A review of economic performance over the past year.

India’s economy has recovered from the COVID- pandemic, but the Russia-Ukraine conflict has sparked inflationary pressures, prompting countries including India to The central bank reversed the ultra-loose monetary policy adopted during the pandemic.

The survey said prices were not rising fast enough to deter private consumption or cripple investment, although it rose at 2022/.

(Additional reporting by Aftab Ahmed; Editing by Krishna N. Das and Tom Hogue)

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