India's GDP growth will be around 8% in FY24: Chief Economic Advisor V Anantha Nageswaran

The central government's second advance estimate for fiscal 2024 had previously forecast the Indian economy to grow by 7.6 percent. Now, the country's Chief Economic Advisor (CEA), V. Anantha Nageswaran, has forecast strong economic growth exceeding the government's estimates due to the increase in activities in the country's industrial and service sectors.

During an event organized by the Association of Registered Investment Advisors (ARIA), the CEA of India said the growth will be above the statistics ministry's estimate of 7.6 per cent and will be around 8 per cent in the current financial year.

V Anantha Nageswaran added that there are many reasons to be optimistic about India's near-term prospects. He said: “If the fourth quarter GDP data is not much lower than the pace we saw in the first three quarters, then the GDP growth rate will be closer to 8 percent rather than 7.6 percent.”

Amid this development, the Chief Economic Advisor stressed the need to work humbly towards the goal without being influenced by the joy of victory. He added that the country should focus on long-term growth and not be influenced by short-term successes. He continued that India's economic growth in the industrial and services sectors was commendable, but the agriculture sector suffered due to the erratic monsoons. He continued, explaining that there are still some positive signs for the agricultural sector such as increased sowing of winter crops, a decline in El Niño and the expectation of a normal monsoon in the coming times.

Anantha Nageswaran also mentioned that in the coming times, domestic consumption will be at the forefront of contributing to the country's growth, adding that the gap between rural and urban consumption is also expected to narrow as the country develops. The financial condition of the banking and corporate sectors is also good and he said they are expected to contribute significantly to the country's growth in the next five to seven years.

Top videos

View all

  • CAA in India | West Bengal Citizenship Amendment Act | Mamata Banerjee | PM Modi | N18V | News18

  • Kamal Haasan Flay's CAA says those trying to divide the nation will get a 'reality check' | News18

  • Russia Ukraine News | Russian volunteer troops have captured the village of Tyotkino | N18V

  • 'Legitimize illegal migration': All Assam Students Union demands SC challenging CAA 2024 | News18

  • Center bans Jammu Kashmir National Front for 5 years with immediate effect under UAPA | News18

  • Business deskA team of writers and reporters decodes comprehensive terms on personal finance and lending

    first published: Mar 13, 2024 12:58 IST

    News18 Join our WhatsApp channel

    sudden porn tamil school sex videos
    indian aunty x vedio neha nair nude
    enema nhentai nier atomata hentai
    saxe store hindi sex mms site
    www indianxvedios gaysporn
    jubaida auntsex
    goo hentai pet transformation hentai
    sex vedeos shruti hassan porn video
    xxxx videos indian telugu movies in torrentz2
    xxx sex films anu aggarwal nude
    نيك اكس موفز arab
    oneesan hentai haruhi hentai
    www tamil six movie com xvi porn videos
    hero hentai manga hentai mom comics
    قصص سكس اغتصاب محارم قصص نيك حموات