FINANCE MINISTER NIRMALA Sitharaman is 'hopeful' of India's gross domestic product (GDP) growing above 8% in the fourth quarter of FY24, substantially higher than the 5.9% growth projection made by the National Statistical Office (NSO). "The average growth in FY24 would be 8% or above," she said on Saturday. The NSO in its second advance estimate (SAE) has projected India's economy to grow at 7.6% in FY24.
Sitharaman mentioned at an event organised by Mint that "we can't grow at 8% without consumption happening", refuting comments made by experts on tepid consumption conditions. She also said a third term of the Narendra Modi government would witness major reforms at the third level of the federal structure-the panchayati raj and urban bodies-in order to encourage businesses to make investments.
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