Welcome you to the Twenty Fifth edition of Devmantra Times for the month of March 2023.
Economic Updates: India's economic growth estimate for 2023 reached 5.5 per cent from 4.8 per cent pegged earlier, on the back of a sharp increase in capital expenditure in the Budget and a resilient economic momentum. The central government continued with its capital expenditure push in the recently announced Union Budget. In 2023-24, capex is budgeted at Rs 10 lakh crore which will constitute 3.3 per cent of GDP. The RBI in its Bulletin said that if effectively implemented, it can take India's real GDP growth close to 7% in FY24.
