May 30th 2024.
According to the latest annual report released by the Reserve Bank of India, the Indian economy is expected to experience a growth rate of 7 per cent in the current fiscal year which began in April. This is a positive forecast, indicating a steady pace of growth for the nation's economy.
The report also noted that in the previous fiscal year, 2023-24, the Indian economy saw a strong expansion with a real GDP growth rate of 7.6 per cent. This was a significant increase from the previous year's 7.0 per cent growth rate and marked the third consecutive year of 7 per cent or higher growth. Looking ahead to the next fiscal year, the RBI predicts a growth rate of 7.0 per cent, with an equal balance of risks.
Despite facing persistent challenges, the Indian economy demonstrated resilience in the previous fiscal year. This is a testament to the strength and potential of the nation's economy. The RBI's report provides a promising outlook for the future, highlighting the consistent growth and stability of the Indian economy.
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