India Fastest Growing wing Economy
Introduction India's economy showcased resilience in 2023, recording a GDP expansion of 6.1%, 7.8%, and 7.6% in the March, June, and September quarters, respectively. Despite global challenges, India is poised to be the world's fastest-growing major economy in 2024, with projections indicating a 6.3% growth, surpassing China, Brazil, and other major economies. The country's economic strength is attributed to factors like growing demand, moderate inflation, stable interest rates, and robust foreign exchange reserves. The International Monetary Fund (IMF) and the Reserve Bank of India (RBI) affirm India's positive economic outlook, with forecasts indicating a growth rate of 6% in 2024-25. Geopolitical development and global uncertainties remain potential challenges. However, the RBI's commitment to an "actively disinflationary" policy, with a stable interest rate, has contributed to strengthened balance sheets. India's foreign exchange reserves, crossin...