Immediately after Union Finance Minister Nirmala Sitharaman presented the Economic Survey 2023-24 in Parliament, CII President Sanjiv Puri hailed the growth trajectory of India. "Puri now expects that against the earlier estimates, India will end up with a GDP growth of more than 8 per cent in 2024-25."
He further added that such optimism is due to the fact that it was a result of nimble macro-financial management supported by a slew of policies which focused on capital expenditure and kept a fine rein on inflation."
Puri said that CII has assumed that India can sustain a growth rate of 7 percent or more in the times to come because of a collective push by the Centre, states, and the private sector pursuing the reform agenda aggressively. Labor-intensive sectors such as tourism, care economy, and food processing, he added, have huge potential for employment and are crucial from an economic perspective.
He can go big-bang on most of the strategic priorities identified by him on "Amrit Kaal" in the Economic Survey related to private investment, the growth of MSMEs as India's Mittelstand, agricultural growth, financial arrangements for a green transition, filling up an education-employment gap, and improving state capacity and capability. He also mentioned the quality of life-related improvements in rural areas, strengthening the social sectors like health, and building capacities of the socially marginalized so that growth in India becomes all-inclusive.
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