India to grow at 6.5% in FY24 as the fastest-rising major economy: EAC-PM

New Delhi, Apr 17 (KNN) India will grow at 6.5 per cent in the current financial year despite a cut in growth projections by multilateral lending agencies, said Economic Advisory Council to the Prime Minister’s (EAC-PM) member Sanjeev Sanyal.

He said that the country will continue to be the fastest-growing major economy in the world.

Sanyal further said that given the uncertainties in the global economy, India’s performance is clearly far ahead of any other comparable economy.

“Asian Development Bank (ADB) and World Bank have only modestly reduced the (growth) forecast for this year. Even after this reduction, India will still be the fastest-growing major economy in the world,” he told PTI.

The International Monetary Fund (IMF) also lowered India’s economic growth projection for the current fiscal to 5.9 per cent from 6.1 per cent earlier. Yet India will continue to be the fastest-growing economy in the world.

“It is not correct to say that we are falling behind, my own assessment is in line with what the Economic Survey published earlier this year that (India’s economic) growth will be somewhere around six and a half per cent range, which is a good performance under the current circumstances,” he said.  (KNN Bureau)