Friday , April 19 2024

India's economic growth rate will remain above 6 percent in the remaining years of the decade – News India Live

Mumbai: India's economic growth rate is likely to remain more than 6 percent in the remaining years of the current decade. Due to high economic growth rates, Chinese investments are now moving towards India. India's long-term economic growth rate is heading towards 6.50 per cent or slightly above, an economist at Goldman Sachs said in a TV interview. India's economic growth rate in the next financial year is estimated to be 6.30 percent. Which is less than the Reserve Bank's estimate of seven percent.

Given the size of India's population, large-scale capital expenditure by the government and healthy domestic demand, conditions are favorable for investment in India.

Projected growth projections refer to the rate at which an economy can grow without excessive inflation. The Reserve Bank of India has estimated the country's economic growth rate to be around seven percent.

Goldman expects investment from the private sector to increase after the Lok Sabha elections in India. Business houses have significantly reduced their debt burdens and their balance sheets are currently the cleanest they have been in the last twenty years, the Goldman economist said in a Sadr TV interview. Much of the country's monetary policy also depends on the decisions of the US Federal Reserve. The next decisions of the Reserve Bank will be in favor of increasing liquidity and reducing interest rates.

The Reserve Bank is expected to cut interest rates twice in the last six months of the current calendar year. Let us tell you here that many global rating agencies are optimistic about India's economic growth rate for the current and next financial year.

Various agencies are expecting the country's economic growth rate to be more than 6.50 percent.