Indian economy: a review
The Indian economy is likely to grow at over 7 per cent in the coming years and is expected to become the third-largest economy in the world in the next three years, with a GDP of $5 trillion, driven by domestic demand along with supply-side measures such as investment in infrastructure and measures to boost manufacturing, the Ministry of Finance said in a report titled ‘The Indian economy — A review’ prepared by Office of Chief Economic Adviser. It now appears very likely that the Indian economy will achieve a growth rate at or above 7% for FY24, and some predict it will achieve another year of 7% real growth in FY25 as well. If the prognosis for FY25 turns out to be right, that will mark the fourth year post-pandemic that the Indian economy will have grown at or over 7 per cent. That would be an impressive achievement, testifying to the resilience and potential of the Indian economy.
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