The National Council of Applied Economic Research (NCAER) has forecasted a robust economic outlook for the current fiscal year, projecting a GDP growth rate of 7% to 7.5%. This optimistic projection reflects a rebound in economic activity following a period of sluggishness, driven by strong domestic consumption, improved investment climate, and ongoing government reforms.
Source:- BBC news
The NCAER’s forecast is underpinned by several key factors. Firstly, the continued strength of consumer spending, bolstered by increased disposable income and lower inflationary pressures, is expected to drive economic growth. Additionally, the investment environment has improved with enhanced foreign direct investment and ongoing infrastructure projects, contributing to increased economic activity.
Source:- news 18
Furthermore, government policies aimed at boosting industrial output and supporting key sectors such as manufacturing and services are expected to play a significant role. The forecast also considers global economic conditions, which, despite some uncertainties, are anticipated to have a favorable impact on India’s export sector.
Overall, the NCAER’s projection suggests a positive economic trajectory for the fiscal year, indicating resilience and potential for sustained growth in the Indian economy.
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