FinMin confident of 6.5% growth in FY24

PTI

Updated At : 12:14 PM Sep 23, 2023 IST

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New Delhi, September 22

The Finance Ministry on Friday exuded confidence that the country will achieve 6.5% growth in FY24 on the back of improved corporate profitability, private capital formation and bank credit growth, notwithstanding the risks of rising crude oil prices and monsoon deficit.

The ministry’s August edition of Monthly Economic Review said the 7.8% growth recorded in the first quarter (April-June) was on account of strong domestic demand, consumption and investment. The growth was also witnessed in various high-frequency indicators.

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