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India's economy is projected to slow to 6.5 per cent in the fiscal year starting April but will remain the fastest-growing major economy in the world as it fared better in dealing with the extraordinary set of challenges the globe has faced, the Economic Survey 2022-23 said.
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The Economic Survey said that India remains the fastest-growing major economy in the worldGDP in nominal terms has been projected at 11 per cent in next fiscal.
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At least three shocks have hit the global economy since 2020, Economic Survey for 2022-23 has noted.
Central banks across economies led by the Federal Reserve responded with synchronised policy rate hikes to curb inflation.
The rate hike by the US Fed drove capital into the US markets causing the US Dollar to appreciate against most currencies.
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Finance Minister Nirmala Sitharaman tabled the Economic Survey for 2022-23 in the Lok Sabha on Tuesday soon after the President Droupadi Murmu's Address to both Houses of Parliament.
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The Economic Survey 2022-23 was tabled in Parliament by Finance Minister Nirmala Sitharaman. The Survey details the state of economy in the current fiscal, while giving a sneak peek into the future.
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