India's economic journey is getting a boost, and noted economist Bibek Debroy is here to guide us through the key details.
Let's break down the insights shared in his recent op-ed about India's economic outlook.
As we gear up for upcoming elections, there's a lot of talk about uncertainty.
However, according to Debroy, India's economy is holding strong, and he's optimistic about what lies ahead.
Despite some global ups and downs, India is expected to grow by a solid 7 per cent this year.
Debroy, Prime Minister's Economic Advisory Council Chairman, highlights that the government is committed to spending money on important projects, especially those that can boost investment and consumption in both cities and villages.
Looking at the economic data for the calendar year 2024, Debroy predicts a strong 7 per cent growth rate.
Even with some uncertainties in the global market, India seems on track, with a more conservative estimate suggesting a growth rate close to 6.8 per cent.
India's total economic output, which was about $3.7 trillion in 2023, is expected to reach a whopping $4 trillion in 2024.
Crossing the $4 trillion mark is like a stepping stone toward India becoming a "developed" country by 2047, predicted Debroy.
Nayan Dwivedi is Staff Writer at Swarajya.
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