The forecast of an above-normal monsoon in 2024 bodes well for a good harvest and may ease India's inflation concerns, a monthly economic review by the finance ministry said on Thursday.

The country's trade deficit was likely to decline in the coming years as the PLI scheme, which aims at boosting manufacturing, further deepens and extends to other sectors, it said. (Reporting by Aftab Ahmed; Writing by Shilpa Jamkhandikar; Editing by YP Rajesh)