NEW DELHI (Reuters) – India on Tuesday forecast its economy will grow 6% to 6.8% in the next financial year starting April 1, down from 7% projected for the current year, as a global slowdown is likely to hurt its exports.
At that pace, India’s economic growth next fiscal year will still be 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, tabled by Finance Minister Nirmala Sitharaman in parliament ahead of the annual budget on Wednesday, is mainly the government’s review of how the economy fared in the past year.
(Reporting by Subham Batra, Nikunj Ohri and Aftab Ahmed; Editing by Krishna N. Das)
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