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India's Gross Domestic Product (GDP) growth rate has reached an impressive 8.2% in the financial year 2023-24, according to the latest figures released by the National Statistical Office (NSO). This robust economic growth has been hailed by Prime Minister Narendra Modi as just a 'trailer of things to come,' indicating the country's promising economic future.
The high GDP growth rate is a testament to the hard work of the Indian people and reflects the country's resilience amid global economic challenges. India has consistently maintained its position as the fastest-growing major economy globally, a testament to its strong fundamentals and the government's effective policies.
Prime Minister Modi expressed optimism about the country's continued economic progress, stating that the 8.2% growth rate is merely a glimpse of the potential that lies ahead. He has repeatedly emphasized his intention to take 'even bigger decisions' in his third term, which is expected to focus on further economic reforms and development initiatives.
Union Finance Minister Nirmala Sitharaman echoed the Prime Minister's sentiments, asserting that the country's growth momentum will continue in the third term of the Modi government. She highlighted the resilience and buoyancy of the Indian economy despite global headwinds, attributing it to the government's prudent fiscal and monetary policies.
The strong GDP growth figures come on the eve of the seventh and final round of polling for the ongoing Lok Sabha elections. The results of these elections will be closely watched as they will determine the next government that will guide India's economic trajectory in the coming years.
India's economic growth is expected to remain a key focus area for the new government, with an emphasis on creating jobs, boosting infrastructure, and attracting foreign investment. The country's favorable demographics and growing consumer market present significant opportunities for sustained economic expansion in the years to come.
The government's ongoing efforts to improve the ease of doing business, implement structural reforms, and promote innovation are likely to contribute to India's continued economic growth. With a stable political environment and a commitment to economic development, India is well-positioned to maintain its status as a leading global economy in the years to come.
Source: India's 8.2% GDP growth a ‘trailer of things to come’: PM Modi hails ‘robust’ economy