MY KOLKATA EDUGRAPH
ADVERTISEMENT
regular-article-logo Friday, 22 November 2024

Survey hints at slight dip in growth next year

Projections say the growth next fiscal could be in the range of 6 per cent to 6.8 per cent, depending on global developments

Our Special Correspondent New Delhi Published 01.02.23, 03:25 AM
The nominal GDP growth, which is the basis for calculating the fiscal deficit, has been forecast at 11 per cent for the next fiscal.

The nominal GDP growth, which is the basis for calculating the fiscal deficit, has been forecast at 11 per cent for the next fiscal. File Photo

The Economic Survey has forecast a baseline GDP growth rate of 6.5 per cent for 2023-24, which is lower than the 7 per cent growth expected in the current financial year.

The Survey was tabled in Parliament on Tuesday by finance minister Nirmala Sitharaman, a day before she presents the Union budget.

ADVERTISEMENT

In its projections, the Survey said the growth next fiscal could be in the range of 6 per cent to 6.8 per cent, depending on global developments.

Analysts described the projections as optimistic as data suggests the growth rate is losing its momentum as the current fiscal comes to an end.

The nominal GDP growth, which is the basis for calculating the fiscal deficit, has been forecast at 11 per cent for the next fiscal. India’s chief economic adviser V.A. Nageswaran, who prepared the report, said inflation was likely to be “well behaved” in the next fiscal, barring headwinds.

Follow us on:
ADVERTISEMENT
ADVERTISEMENT