India's Economic Surge: GDP Set to Cross $4 Trillion

India’s economic growth forecast for the next fiscal year has been revised upwards to a range of 7-7.4%, according to Chief Economic Advisor V Anantha Nageswaran. The new projection surpasses the earlier estimate, suggesting the economy's size will comfortably exceed the $4 trillion mark during this period.

The adjustment follows a new series of National Accounts Estimates released by the Ministry of Statistics and Programme Implementation, which now uses a base year of 2022-23. Nageswaran emphasized the economy's robust growth momentum, bolstered by broad-based activities and favorable supply-side conditions.

The revised estimates account for structural changes and new data sources that reflect India's economic progress more accurately. With anticipated low inflation and fiscal consolidation on track, India is set to outperform several global counterparts, with significant growth observed in manufacturing, agriculture, and investment sectors.