The Economic Survey 2022-23 has projected India’s real GDP to grow at 6.5 per cent in 2023-24. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in Rajya Sabha today.

The Minister stated that the World Bank in its latest Global Economic Prospects has projected the Indian economy to grow at 6.6 per cent in 2023-24.

Giving more information, the Minister stated that past estimates of the growth rate of the economy have generally been in line with actual growth rate, except for years with exceptional circumstances like global financial crisis, COVID-19 pandemic, among others

GDP growth projection: government and multilateral forecasts align, with deviations limited to exceptional global shocks. The Economic Survey's real GDP projection for the coming year was affirmed by the Union Minister of State for Finance and corresponds closely with the World Bank's independent forecast. Historically, official growth estimates have generally tracked actual growth, with significant divergence confined to years affected by exceptional global shocks such as the global financial crisis and the COVID 19 pandemic.