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The Indian government's road map to make India a $5 trillion economy focuses on macro-level growth and "all-inclusive welfare" on the micro level, according to Minister of State for Finance Pankaj Chaudhary. The plan aims to create a "virtuous cycle of investment and growth" and prioritises digital economy and fintech, technology-enabled development, energy transition and climate action.
The central government's debt stood at Rs 155.6 lakh crore or 57.1 per cent of the GDP at the end of March 2023, Parliament was informed on Tuesday. "The Central Government's debt was Rs 155.6 lakh crore as on March 31, 2023. It has reduced from 61.5 per cent of GDP in 2020-21 to 57.1 per cent of GDP in FY 2022-23," Minister of State for Finance Pankaj Chaudhary said in a written reply to the Rajya Sabha.
ICICIDirect expects historical performance, upcoming general elections, positive outlook for India and weaker US dollar to support the current breakout in the Nifty50.
Nifty50 tested its 52-week high at 18,887.60 on December 1, 2022, before it went into the corrective phase but the index has gained about 3 per cent in the last one month.