The Economic Survey shows that the economy is on the way to recovery post the pandemic.
Despite the geopolitical risks and the financial shocks to the economy on account of monetary tightening, the economy has a positive growth outlook in the medium term.
The survey predicts growth of GDP to be between 6 to 6.8% in 2023-24. There is however risk to India’s growth due to the impact of the 0 growth or negative growth of the developed nations, along with the lagged effect of the monetary tightening.
However, if the government continues its reforms and the emphasis on capex, then India’s medium term prospects look bright.
