- विज्ञापन -
New Delhi : According to India’s Chief Economic Adviser (CEA), V Anantha Nageswaran, there’s a strong likelihood of the country’s economic growth reaching 8 percent by 2023-24.
He anticipates a GDP growth rate of 7 percent for the following year, emphasizing the importance of sustaining it. Nageswaran also expressed confidence in keeping inflation in check, asserting the nation’s ability to pursue a steady path of growth without inflationary pressures.
He noted the absence of significant inflationary risks currently, although acknowledging potential geopolitical factors that could alter this outlook.
However, the baseline expectation is for inflation to gradually align with the midpoint target range of 4 percent set by the Monetary Policy Committee, enabling the central bank to consider interest rate adjustments to stimulate economic activity.
Although India’s inflation rate dropped to a five-month low of 4.85 percent in March, the Reserve Bank of India (RBI) remains committed to managing inflation before contemplating interest rate cuts.
RBI Governor Shaktikanta Das reiterated the importance of maintaining focus on inflation, aiming for its descent to the target of 4 percent, even as the country’s GDP growth is forecasted at 7 percent for 2024-25 with inflation projected at 4.5 percent for the year.
