CAPEX, PVT INVESTMENT, STRONG MACROS PUT INDIA IN A BRIGHT PLACE IN FY25

India looks set to close an eventful financial year 2023-34 (FY2024) with the economy growing above 8 per cent for three consecutive quarters, reaffirming her position as a standout performer amidst persistent geopolitical headwinds, and to continue on an ambitious trajectory with the estimated GDP growth revised upwards from 7.3 per cent to 7.6 per cent for FY24 as underlined by the monthly economic review of the Finance Ministry (MER) for February, also the last review before the fiscal ends on 31 March.

- NIVEDITA MUKHERJEE

Stable inflation and external account, steady number of new project announcements keeping India among the top 5 destinations for global greenfield projects, progressive employment outlook help the Indian economy close the current financial year on a positive note, the Finance Ministry notes, even as a welcome decline in global commodity prices from their post-Ukraine conflict, rising FPI inflows, declining current account deficit (CAD), rise in foreign exchange reserves at USD 636 billion as on 8 March 2024, allow India, on the whole, to look forward to a bright outlook for FY25, the report projects.