According to India’s Chief Economic Adviser, the Indian economy is expected to grow steadily between 6.5% to 7% from this year until 2030, without further reforms. This is due to the country being on “auto-pilot” mode, aided by initiatives such as the Goods and Services Tax (GST) and the Insolvency and Bankruptcy Code (IBC). The CEA further stated that macroeconomic stability has been achieved, and advised that infrastructure investments be prioritized to further bolster the economy. The prediction is seen as optimistic, but experts have pointed out challenges such as rising inflation and global economic conditions.
Today: December 4, 2023