Singh, who unveiled the ‘NITI Aayog’s Roadmap for Strengthening State Science and Technology Councils’ at NITI Aayog complex, here said Science and Technology is the key growth engine for India’s economic rise.
“J&K will emerge as a key growth engine in India's journey from the fourth-largest to the largest global economy,” the minister was quoted as saying in an official press statement issued here.
India's economy is projected to grow by 6.6 per cent in 2025, following an estimated expansion of 6.9 per cent in 2024, UN World Economic Situation and Prospects (WESP) 2025 report said.
The global economy remained resilient in the first half of 2024, with declining inflation supporting household spending, it said in its October Bulletin.
The production of Coal, Electricity, Natural Gas, Steel, Fertilizer and Cement recorded positive growth in June 2024, it added. In May, the growth was 6.4%.
The UN body expects gross domestic product (GDP) growth in FY26 to slow down to 6.5%, same as projected in its April World Economic Outlook (WEO).
The PMI for manufacturing activity increased to 56.9 in February, reflecting a strong expansionary momentum.
It added the Indian economy also continues to benefit from high bank credit growth and infrastructure spending, with more to come from the latter.
The central bank has retained growth projection of 10.5 per cent for the current financial year as was estimated in its February bi-monthly policy.
Fitch said its assessment of India's rating in such a case would be guided by our judgement of its probable medium-term fiscal path in the post-crisis environment.
