Dr S. Lingamurthy South India co-coordinator of Swadeshi Jagran Manch

By DECCAN CHRONICLE | dc correspondent

1 February 2023

HYDERABAD: On the eve of the presentation of the Union Budget on Wednesday, the Swadeshi Jagran Manch stated on Tuesday that India is the ray of hope for the world economy during 2022-23.

A statement issued by the organisation’s South India co-coordinator Dr S. Lingamurthy stated that in the midst of sluggish global economic growth of below 3 per cent in 2023, India’s economic growth rate had been projected to be 6.8 per cent during 2022-23. The projection was based on the past eight to nine months’ economic indicators used in the Economic Survey presented by the Union finance minister in Parliament on Tuesday.

“Our foreign exchange reserves are in a comfortable situation, external trade is optimistic, the consumer price index is rising above 6 per cent and wholesale price index is under 5 per cent. As per the Economic Survey report the only alarming aspect is Current Account Deficit (CAD) which needs to be under control,” reads the statement.

Dr Lingamurthy stated that based on strong fundamentals, the upcoming Budget would be focused on employment creation by creating robust infrastructure and strengthening the industry and agriculture sectors.

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