The United Nations has raised India’s growth forecast for 2024 to 6.9%, attributing it to robust public investment and resilient private consumption. This marks an increase from the previous 6.2% projection in January. Despite subdued external demand, the country’s GDP is expected to grow, with pharmaceuticals and chemicals exports showing strength. The update also highlights improvements in India’s labor market indicators and the commitment to fiscal deficit reduction. The global economic outlook has also improved, with major economies avoiding severe downturns.
India’s Economic Growth Upwardly Revised by United Nations for 2024
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