External situation worsens as India aims to grow 6-6.8% in FY24

India may have to hugely rely on domestic consumption to drive growth as the external environment as cited above is facing a slowdown

Indivjal Dhasmana | New Delhi
Last Updated at March 14, 2023 09:00 IST

The external environment has worsened further. While the Finnish economy entered into a recession, Swedish economic growth also dipped. The Finnish gross domestic product (GDP) dropped 0.6 per cent in October-December, 2022. It was the second quarter of negative growth, which is a technical definition of recession. Swedish GDP fell by 0.2 per cent in the fourth quarter of 2022, compared to the same period a year earlier. However, it was still not in recession.

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