GDP growth will be even better: EaseMyTrip co-founder Pitti on Eco Survey

As Finance Minister Niramala Sitharaman presented the Economic Survey on Monday and is set to present the Union Budget 2024 in Parliament, EaseMyTrip co-founder Rikant Pitti said that the GDP growth rate will become even better than the economic survey's 7 per cent growth prediction.

"... Last year our GDP growth rate was around 6.5 per cent, and this time as well, the economic survey suggests around 7 per cent growth rate... In the coming time, our GDP growth rate will become even better...," Pitti said speaking to ANI on Monday.

Speaking on the tourism sector, Pitti said that he expects the government to put some more focus on tourism as it provides many employment opportunities.

"Tourism is a link between industry and the local populace... Investment has been increasing in India... We are expanding across tourism categories... We hope that the government puts in a little more focus in this sector as it will provide a lot of employment opportunities...," the EaseMy Trip co-founder said.

Finance Minister Nirmala Sitharaman arrived at the Ministry of Finance ahead of the Union Budget presentation on Tuesday.

Nirmala Sitharaman is set to present the Union Budget 2024 in Parliament today, marking her seventh consecutive budget and eclipsing the late Moraji Desai's record of six consecutive budgets, which is likely to focus on changes in the income tax structure and improving the ease of doing business in India.

Sitharaman tabled the Economic Survey 2023-24 along with the statistical appendix on Monday.

The Economic Survey presented in the Parliament by Finance Minsiter Nirmala Sithraman says in the medium term Indian economy can grow at a rate of 7 per cent.

The economic survey stated, "In the medium term, the Indian economy can grow at a rate of 7 per cent plus on a sustained basis if we build on the structural reforms undertaken over the last decade. This requires a tripartite compact between the Union Government, State Governments and the private sector."

The survey further added that India faces a unique blend of opportunities and challenges amid global trends such as geo-economic fragmentation, a push for self-reliance, looming climate change, the rise of technology, and limited policy space.

It suggested that the government's focus must shift to bottom-up reforms and strengthening governance to ensure that the structural reforms of the past decade result in strong, sustainable, balanced, and inclusive growth.