In a recent mid-year macroeconomic review, the National Institute of Public Finance and Policy (NIPFP) has forecasted that India’s economic growth will likely decelerate to 6% in the financial year 2023-24 (FY24), down from the 7.2% recorded in FY23. This projected slowdown is attributed to prevailing headwinds in the global economy. The NIPFP analysis takes into consideration various economic indicators and trends, offering valuable insights into the potential trajectory of India’s economy.
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