Budget 2023: India to remain fastest-growing major economy says, Nirmala Sitharaman

Finance minister Nirmala Sitharaman tables the Economic Survey 2022-23 in Parliament. Tabling the pre-budget document, finance minister Sitharaman says it found India will remain fastest-growing major economy, despite a projected lower GDP growth of 6%-6.8%.

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. 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%.

Gross domestic product is expected to grow 6.5% in the fiscal year starting April, compared with the 7% expansion estimated for the current year.

 

Finance Minister Nirmala Sitharaman tables the Economic Survey 2022-23 in Parliament pic.twitter.com/sUMW7RAkWx

— ANI (@ANI) January 31, 2023