Chief Economic Advisor (CEA) Dr Venkatramanan Anantha Nageswaran said that inflation is expected to ‘cool off’ this year.
‘By and large, inflation is likely to be we-l behaved in FY24 barring headwinds,’ said Dr Nageswaran.
Dr Nageswaran added the International Monetary Fund (IMF), in its World Economic Outlook Update, has maintained India’s GDP forecast for the current fiscal at 6.8 per cent, the next fiscal will see a slight downward trend around 6.1 per cent, before going back to 6.8 per cent for the 2024-25 fiscal.
The combined value of goods and services exports in current dollars for April-December 2022 is 16 per cent higher than in April-December 2021.
Economic Survey
India’s economy is poised to do better in remainder of this decade, due to reforms in the last eight years, said the CEA.
‘Recovery of economy is complete; non-banking and corporate sectors now have healthy balance sheets, hence, we don’t have to speak of pandemic recovery anymore, we have to look ahead to the next phase,’ Dr Nageswaran observed