India to surpass 7% growth in FY 23: SBI

May 26, 2023 10:23

The Indian economy is on track to surpass 7 per cent growth rate in Fiscal Year 2023 with manufacturing being the key driver, according to a report released by the State Bank of India.

State Bank of India's research report, Ecowrap released on Friday said that India's growth in the fourth quarter of FY23 is likely to be 5.5 per cent, which would lead to the country's growth for FY23 at 7.1 per cent.

This is in line with the advance estimates released by the National Statistical Office (NSO) in January that pegged growth for the year ended March 31, 2023, at 7 per cent.

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