INDIA WILL REMAIN FASTEST-GROWING MAJOR ECONOMY IN FY'24
The Business Guardian|October 24, 2023
September edition of Monthly Economic Review also flagged that global uncertainties have been compounded by recent developments in the Persian Gulf
INDIA WILL REMAIN FASTEST-GROWING MAJOR ECONOMY IN FY'24

According to a report from the finance ministry on Monday, India is poised to maintain its status as the world’s fastest-growing major economy in the fiscal year 202324. This projection is attributed to the nation’s robust domestic fundamentals and favorable expectations for inflation.

In the September release of the Monthly Economic Review, it was noted that the prevailing global uncertainties have been further complicated by recent events in the Persian Gulf. Depending on the evolution of this situation, there is the possibility that crude oil prices could experience an upward trajectory.

In the midst of ongoing global uncertainties and the relentless supply of US Treasuries coupled with the potential for continued restrictive monetary policy in the United States, India is cautiously navigating the economic landscape for the fiscal year 2023-24. This is according to a report released by the Ministry of Finance, which highlights both the positive domestic fundamentals supporting India’s economic outlook and the potential challenges posed by external factors.

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The Business Guardian

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