Key Points
Chief economic adviser V Anantha Nageswaran on Wednesday predicted another year of "solid economic performance" by India in FY24, stressing that risks to the forecast of 6.5% growth are now more evenly balanced "than what we thought four months ago"...
Addressing the media after the gross domestic product (GDP) data showed a higher-than-projected expansion of 7.2% in FY23, the CEA said private investment is "no longer a prospective story but a current reality"...
The private sector capital formation cycle, he added, has already begun on the back of high capacity utilisation and robust demand..
A 20% year-on-year rise in capital goods imports in FY23 and increased domestic production of such goods also signal growing private investments, he said...
"We are very pleased to have been able to present a story of sustained economic momentum combined with macroeconomic, financial and fiscal stability, and we look forward to another year of solid economic performance by India," he said..
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