Expectations for the water, sanitation, and hygiene (wash) sector from the 2023-24 Union budget

In a recent article in the TOI, it was suggested that India was a ‘Standout Nation’ amid the global economic gloom and indeed India seems to have emerged as a frontrunner with estimates showing that growth is likely to be around 7% for 2022- 2023 based on growing domestic consumption. While the RBI is more cautious at a forecast of 6.8% GDP growth, India’s growth taken in relation to the recession in 4 of the 5 major world economies larger than itself could very well see it reaching this percentage. China’s GDP growth rates for long have been suspect and cannot realistically be counted on in real value terms.

 

A burgeoning population, fueling a growing consumption primarily met from the domestic output, and insulated largely from the global recession, are the key indicators for this success story in FY 2023- 24 but these same indicators could also contribute to a rapid decline in the economy in the future if measures are not taken to meet India’s SDG obligations.