Indian economy | Good news! Indian economy to grow by 7.5% in 2024; World Bank style

Indian economy |  Good news!  Indian economy to grow by 7.5% in 2024;  World Bank style


Pudhari Online: The Indian economy is strong and is expected to grow by 7.5 percent in 2024, the World Bank has said. Also, the World Bank has given credit to India for the huge growth in the South Asian economy. The outlook for South Asia appears bright in the short term. But there is still some level of concern. (Indian economy)

“In India, where the regions account for the majority of the economy, output growth is expected to reach 7.5 percent in the financial year 2023-24 and the upturn in services and industry is expected to be strong before the economy grows to 6.6 percent in the medium term.” The World Bank has mentioned their circumstances.

“India’s output growth is expected to reach 7.5 percent in fiscal year 2023-24 due to strong growth in the third quarter of fiscal year 2023-2024. The growth rate in the economic year 2024-25 is likely to remain moderate at 6.6 percent. But the pace of development increased in the subsequent years. This is due to a decade of strong public investment that provides growth benefits. The pace of growth is likely to slow down between 2023-2024 and 2024-25. It mainly reflects the decline in Gunta from its high speed in the last year. Growth in services and industry is likely to remain strong. Strong upswing in the construction and real estate sectors will help the economy. It is expected that the economic pressure will be reduced by giving more policy oil to ease the economic situation. “In the medium term, the fiscal deficit and government debt are expected to reduce due to strong output growth and consolidation efforts by the central government.” This is what the World Bank report says.

economic reforms in china and sri lanka

The World Bank reports that overall South Asia is expected to grow by 6.0-6.1 percent in 2024. This increase is due to the improvement in the economies of Pakistan and Sri Lanka and strong growth in India.

‘El Nino’ ​​hits, food grain boom increases

India’s inflation rate has remained within the Reserve Bank of India’s target range of 2-6 percent since mid-2023, it is reported. Repo rates in India remain the same as they were since February 2023. But the price of food grains has increased. Due to El Nino situation, agricultural production decreased to some extent due to lack of rainfall. The World Bank has said that as a result, grain prices have declined.

This is the covenant:


Source link