Team Blitz India
NEW DELHI: Sustaining the economic growth momentum of 7 per cent in 2024-25 and beyond is feasible on the back of favorable monsoon, higher farm productivity and improved global trade, RBI Monetary Policy Committee (MPC) member Shashanka Bhide said on April 23.
During 2023-24, the economy is likely to record a growth rate of near 8 per cent on account of good performance of manufacturing and infrastructure sectors.
“(India’s economic) Growth in the current year is likely to be supported by agriculture with a favourable monsoon and improved global trade. Sustaining the growth momentum of 7 per cent seems feasible,” he told PTI.
Bhide further said that in the long-term, the need for productivity improvements will remain the key factor to achieve food price stability.Asked what are some of the headwinds he is wary of, Bhide said one area of concern is the global environment.
