The Economic Survey provides a wide range of growth projections (6 per cent to 6.8 per cent) with a baseline growth of 6.5 per cent for FY24. This is understandable, given the uncertain global economic scenario.
The optimistic growth scenario is built on the assumptions of a continued high government capital expenditure (CapEx) and unleashing of the private CapEx in FY24 with healthy corporate and bank balance sheets. The confidence on the growth front is also supported by recent economic data prints in Europe and the US, wherein inflation has come off its peaks, along with the sudden opening of the Chinese economy.
The Economic Survey outlines the underlying framework of reforms in India centred on ease of doing business and ease of living with four pillars supporting it. The first pillar outlined is creating public goods through CapEx push and programmes like Bharatmala, Sagarmala, UDAN and the National Infrastructure Pipeline. The cr
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