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CII pegs GDP growth at 6.5-6.7% in FY24

Says strong domestic drivers, robust govt capex and structural reform agenda pushing Indian economy towards $5-trn target

RBI Guv sees FY23 GDP growth over 7%

Fiscal deficit narrows to 6.4% of GDP in FY23 

Growth Factors

- Focus on India after assuming G20 Presidency

- Retail inflation declined to 18-mth low of 4.7% in April

- RBI may pause in repo rate

New Delhi: Industry body CII on Thursday said India’s economy is expected to grow in the range of 6.5-6.7 per cent in the current financial year supported by strong domestic drivers and robust capex momentum of the government.

India’s Gross Domestic Product (GDP) grew by 6.1 per cent in the March quarter of 2022-23, pushing the annual growth rate to 7.2 per cent. The growth has propelled the country’s economy to $3.3 trillion, setting the stage for achieving the $5 trillion target in the next few years.

Addressing the media, newly elected President of Confederation of Indian Industry (CII) R Dinesh said India’s GDP growth is expected to leapfrog to 7.8 per cent in the next decade (FY22-31) from 6.6 per cent previously recorded.

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