FM says Indian economy to grow 7.4% this fiscal as well as in FY24

Union Finance Minister Nirmala Sitharaman on Friday (26 August) said the Indian economy will see a growth rate of 7.4% in the current fiscal as well as in the next year.

She said International Monetary Fund and the World Bank have projected India's growth to be the fastest for the next two fiscal years, and their estimates are in sync with that of the Reserve Bank of India.

Addressing an event in Mumbai, Sitharaman also said that India is attracting new investments. She said the global situation continues to be challenging and it is not the right time to throw caution to the winds as yet.

The minister further said that the export sector is likely to face difficulties as the global growth slows down, but the government will work with all stakeholders to tackle the situation and the headwinds.

On the issue of freebies, Sitharaman said there is a need for a rigorous debate on the freebies side. She stressed that political parties making pre-poll promises should make budgetary provisions for taking care of the expenditures and not push the burden on other entities.

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