New Delhi, 17/10: India’s economic growth is estimated to slow to 6.3% in the current financial year from 7.2% recorded in the previous year, dragged by a sharp deceleration in farm sector growth, FICCI Economic Outlook Survey released on Monday showed.
Agriculture sector growth is likely to slip to 2.7% in 2023-24 from 4% recorded in the previous year. “The El Nino effect has had an impact on the spatial distribution of rainfall this monsoon season,” the industry body noted in the report.