Economy not falling behind, likely to grow at 6.5% in FY24: Sanjeev Sanyal

Indian economy will grow at around 6.5 per cent in the current fiscal and will continue to be the fastest-growing major economy in the world, notwithstanding a modest cut in growth projections by multilateral lending agencies, Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal has said.

Sanyal further said that given the uncertainties in the global economy, India's performance is clearly far ahead of any other comparable economy.

"ADB (Asian Development Bank) and World Bank have only modestly reduced the (growth) forecast for this year. Even after this reduction, India will still be the fastest-growing major economy in the world," he told PTI.

Recently, the World Bank and the Asian Development Bank projected moderation in Indian economic growth between 6.3 per cent and 6.4 per cent due to a slowdown in consumption and challenging external conditions.

The International Monetary Fund (IMF) also lowered India's economic growth projection for the current ..