GDP Growth Forecast 2023-24: Expert Welcomes 7.6% Projection

Kolkata, Feb 29 (PTI) Chief economist of Bandhan Bank Siddhartha Sanyal welcomed the GDP growth forecast of 7.6 per cent for 2023-24 released by the National Statistical Office (NSO) on Thursday.

Sanyal said, "The GDP growth number for 2023-24 will be highest in seven years, barring 2021-22, which had shot up due to the statistical effects of a favourable post-COVID base".

He said the high-frequency indicators continue to be robust, suggesting strong growth possibilities during 2024-25 as well.

"Strong growth coupled with softening of inflation in the coming quarters will offer cushion for policymakers, particularly regarding monetary policy and a key aspect to watch remains RBI's communication and action on the liquidity front", he said.

It is expected that rate cuts are unlikely in the next couple of monetary policy committee (MPC) meetings, Sanyal added. PTI dc