'Growth may be more than 6.5% in FY24'

Buoyed by the September quarter GDP estimates, the government sees an upside to its 6.5% growth projection for the current financial year as it expects the growth momentum to continue in the second half. Chief economic adviser V Anantha Nageswaran also asserted that going by the tax buoyancy - ratio of growth in tax collections to economic growth - GDP growth could be underestimated. Healthy direct and indirect tax collections have pushed the tax buoyancy to 1.9.