India’s GDP Growth Forecasted Strongly
ECONOMY & POLICY

India’s GDP Growth Forecasted Strongly

India is poised for significant economic growth, with projections indicating a GDP increase of 7.5% for the fiscal year 2024-25, according to Amitabh Kant, CEO of NITI Aayog. He emphasized that the country's focus on infrastructure development and structural reforms will be crucial in driving this growth. Kant pointed out that the nation has witnessed unprecedented investment in infrastructure, which he considers the backbone of economic progress.

The government's commitment to substantial public and private sector investment is evident, with plans for the creation of world-class infrastructure. Initiatives such as the Gati Shakti framework aim to streamline logistics and enhance connectivity across the country, fostering an environment conducive to business and trade. These efforts are expected to not only improve economic efficiency but also generate employment opportunities, thus boosting consumer spending.

Kant also noted that the government's emphasis on sustainable practices, particularly in renewable energy and green technologies, will play a vital role in shaping India's economic landscape. By aligning growth strategies with sustainable development, India aims to attract foreign investments and enhance its position in the global economy.

Moreover, the anticipated reforms in various sectors, including taxation and governance, are expected to provide a more conducive environment for businesses. The overarching goal is to achieve a balanced and inclusive growth trajectory that will benefit all segments of society.

In conclusion, with a robust focus on infrastructure and necessary structural reforms, India is well-positioned to achieve its ambitious GDP growth target, ultimately leading to a more resilient economy.

India is poised for significant economic growth, with projections indicating a GDP increase of 7.5% for the fiscal year 2024-25, according to Amitabh Kant, CEO of NITI Aayog. He emphasized that the country's focus on infrastructure development and structural reforms will be crucial in driving this growth. Kant pointed out that the nation has witnessed unprecedented investment in infrastructure, which he considers the backbone of economic progress. The government's commitment to substantial public and private sector investment is evident, with plans for the creation of world-class infrastructure. Initiatives such as the Gati Shakti framework aim to streamline logistics and enhance connectivity across the country, fostering an environment conducive to business and trade. These efforts are expected to not only improve economic efficiency but also generate employment opportunities, thus boosting consumer spending. Kant also noted that the government's emphasis on sustainable practices, particularly in renewable energy and green technologies, will play a vital role in shaping India's economic landscape. By aligning growth strategies with sustainable development, India aims to attract foreign investments and enhance its position in the global economy. Moreover, the anticipated reforms in various sectors, including taxation and governance, are expected to provide a more conducive environment for businesses. The overarching goal is to achieve a balanced and inclusive growth trajectory that will benefit all segments of society. In conclusion, with a robust focus on infrastructure and necessary structural reforms, India is well-positioned to achieve its ambitious GDP growth target, ultimately leading to a more resilient economy.

Next Story
Infrastructure Transport

Bengaluru Unveils Rs 1,200 Bn Infra Upgrade Plan

Bengaluru is set to receive a massive infrastructure boost worth Rs 1,200 billion under new projects planned by the Karnataka government to enhance urban mobility and connectivity. The initiative includes the expansion of the city’s metro network, construction of tunnel roads, elevated corridors, and 500 km of white-topping works to improve road durability. The Bruhat Bengaluru Mahanagara Palike (BBMP) and Bengaluru Metro Rail Corporation Limited (BMRCL) will jointly execute the projects. Key projects include tunnel roads between Hebbal and Mekhri Circle, 25 new signal-free corridors, and ..

Next Story
Infrastructure Transport

Cochin Shipyard delivers first indigenous ASW vessel ‘Mahe’ to Navy

Cochin Shipyard Limited (CSL) has delivered INS Mahe, the first indigenous Anti-Submarine Warfare Shallow Water Craft (ASW SWC), to the Indian Navy. The vessel is part of an eight-ship series being constructed under the Navy’s “Atmanirbhar Bharat” initiative to strengthen coastal defence capabilities. Designed and built entirely in India, Mahe features advanced sensors and weapon systems for detecting and neutralising underwater threats in coastal waters. The vessel underwent extensive sea trials before delivery, demonstrating high performance and manoeuvrability. This milestone reinfo..

Next Story
Infrastructure Urban

Vedanta Group to invest Rs 1,000 billion more in Odisha projects

Vedanta Group has announced an additional investment of Rs 1,000 billion in Odisha to expand its operations across metals, energy, and downstream industries. Anil Agarwal, Chairman, made the announcement during the third edition of the Make in Odisha conclave, highlighting the state’s pivotal role in India’s industrial growth.The investment will focus on strengthening Vedanta’s aluminium and copper businesses, establishing new value-added facilities, and boosting employment in the region. The company already operates large-scale plants in Jharsuguda and Lanjigarh, contributing significan..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?