After the IMF's World Economic Outlook forecast that India is set to remain the fastest-growing among major economies in 2024, experts hailed the IMF projections and highlighted that the Indian economy is set to become third largest in the world soon.
This outlook comes amidst a backdrop of sustained momentum in credit growth, particularly across agriculture, MSME, and services sectors, as revealed by the latest credit growth numbers.
On Saturday, finance minister Nirmala Sitharaman said in an event at Mumbai that India will grow over 8 per cent in the January-March quarter of 2024. The country has become the 5th largest economy of the world and the Modi government has pledged to make it the 3rd largest by 2027.
Moody's Investors Service expects India's economic growth in 2024-25 growth above that of other emerging market G20 peers, given its domestic demand managed to sustain momentum.
The latest report from Moody's Analytics reveals promising forecasts for India's economic growth trajectory, attributing it to various factors including government capital spending, manufacturing activity, and resilient consumption demand.
The Indian economy grew 7.8 per cent and 7.6 per cent during the preceding two quarters - April-June and July-September, data released by the Ministry of Statistics and Programme Implementation on Thursday showed.
The report highlighted that market watchers are quite keen on Prime Minister Narendra Modi's return to power for a third straight term in the upcoming Lok Sabha polls which will bring greater predictability to economic policies.
"We are asking for continuity. We are asking for the focus on CapEx and the infrastructure, which has happened very well in the past, to continue. We are recommending a 20% increase in CapEx spending, with Rs 12 lakh crore to be spent on infrastructure. We are also looking at giving direc
"I think infrastructure has to be the key focus. India has been lagging in infrastructure and in the last couple of years we have seen that this government has put in a lot. We have seen a lot of projects that have come to fruition this year itself and any more that are in the pipeline will
"In PM Kisan, it should be increased to about 8000; apart from this, something can be done for the females. As we have seen in the report of the Chief Economic Advisor, which came recently, the labour force participation rate is quite good, and so it should be encouraged further. Some ste
Hailing India's economic growth, the President and Chief Executive Officer of the US-India Strategic Partnership Forum, Mukesh Aghi called it "story of the year" and added that the country's growth is much more predictable than any other now.