India is now the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity.
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India's economy is projected to grow at a healthy 6.9% in the current fiscal year ending March 2024, and 6.5% the year after, according to Fitch Ratings. This keeps India among the fastest-growing major economies globally.
The Union Budget 2024, to be presented on February 1st, will be closely watched for its measures to address these challenges and further propel India's economic growth.