Economic Survey pegs growth at 6.5-7%; solidifying India's strong macroeconomic fundamentals: CBRE
Jul 22, 2024, 16:19 IST
The Economic Survey presented by Union Finance Minister Nirmala Sitharaman has projected a growth rate of 6.5 per cent and 7 per cent further solidifying India's strong macroeconomic fundamentals, CBRE Chairman and CEO-India, South-East Asia, Middle East and Africa, Anshuman Magazine said on Monday. The country's economic performance in FY'24 surpassed expectations, registering a robust growth rate of 8.2 per cent. "This momentum is noteworthy considering three out of the past four quarters exceeded the 8 per cent growth mark," he said in his reaction to the Economic Survey.
Inflation is anticipated to moderate around 4.5 per cent and it reflects a 'well-balanced' economic environment, he said.
"The survey acknowledges the real estate sector, particularly the residential segment, as a significant driver of private investment. The survey emphasizes the importance of continued collaboration between central and state governments, along with the private sector, to sustain this momentum," Magazine said in a statement.
India's post-pandemic recovery has been orderly and expansive and it is testament to the underlying resilience of the economy, he said.
"Looking ahead to FY'25, several indicators such as robust private consumption, increased bank lending activity and improved corporate capital expenditure indicate towards a good year ahead," he added.
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Inflation is anticipated to moderate around 4.5 per cent and it reflects a 'well-balanced' economic environment, he said.
"The survey acknowledges the real estate sector, particularly the residential segment, as a significant driver of private investment. The survey emphasizes the importance of continued collaboration between central and state governments, along with the private sector, to sustain this momentum," Magazine said in a statement.
India's post-pandemic recovery has been orderly and expansive and it is testament to the underlying resilience of the economy, he said.
"Looking ahead to FY'25, several indicators such as robust private consumption, increased bank lending activity and improved corporate capital expenditure indicate towards a good year ahead," he added.