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Pent-up demand, infra spend drove growth amid global headwinds: FinMin

In its latest Monthly Economic Review, the Ministry said global economic developments remain complicated in November, and that fiscal and monetary policymakers need to remain vigilant

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3 min read Last Updated : Dec 24 2022 | 12:30 AM IST

India’s robust 9.7 per cent growth rate in the first half of the current financial year (April-September FY23) was primarily driven by pent-up demand from the services sector, enhanced agriculture exports and robust construction activity aided by higher infrastructure investment, the Finance Ministry said in its latest Monthly Economic Review (MER) on Friday.

In the MER, the Ministry said that global economic developments remain complicated in November, and that fiscal and monetary policymakers need to remain vigilant.

“As we head into 2023, global economic developments are expected to complicate the outlook further, and therefore continued vigilance is a critical aspect

Topics : Fiscal Policy Finance Ministry infra spending India's growth economic review Finance minister global economic crisis monetary policy economic review meet

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