The RBI has projected Country’s real GDP to grow at 6.5 percent in the current fiscal year. In the written reply in Rajya Sabha, Minister of Finance Nirmala Sitharaman said that the International Monetary Fund (IMF), in its latest World Economic Outlook (WEO) of July 2023, has revised India’s real GDP growth forecast for the current financial year by 20 basis points (bps). She said that the IMF has raised it from 5.9 percent to 6.1 percent. The positive revision is due to the momentum gained from robust growth in the fourth quarter of 2022-23, driven by robust domestic investment.
 
The Minister said that a series of measures have been undertaken by the Government in the past which will help the country become a 5 trillion dollar economy and beyond.