Economic Survey Projects India's GDP To Grow 6% To 6.8% In 2023-24

The Economic Survey tabled today forecast the economy to grow at 6% to 6.8% in the next financial year, as a global slowdown is likely to hurt its exports.

These projections will make India's economic growth next fiscal year the fastest among major economies. The government's annual Economic Survey report said its baseline scenario for growth for 2023/24 was 6.5%, with nominal growth, which accounts for inflation, forecast at 11%.

The survey was tabled by Finance Minister Nirmala Sitharaman in parliament ahead of the annual budget on Wednesday. The economic survey is mainly the government's review of how the economy fared in the past year.

The International Monetary Fund (IMF) stated on Tuesday that it expects some slowdown in Indian economy next fiscal year and anticipates the growth to 6.1% from 6.8% during the current fiscal ending March 31.