GDP Growth Rate Likely to be 6.7% in Q4, Around 7% in FY24: Ind-RA

• The Indian economy showed robust growth in the first three quarters of the 2023-24 fiscal year, with GDP expanding by 8.2% in the June quarter, 8.1% in the September quarter, and 8.4% in the December quarter.
• India Ratings and Research (Ind-RA) expects the GDP growth rate to be 6.7% for the March quarter and around 6.9-7% for the entire fiscal year, according to their principal economist, Sunil Kumar Sinha. The official GDP numbers for Q4 and provisional estimates for FY24 will be released on May 31.
• The Reserve Bank of India projected a GDP growth rate of 7% for 2023-24 in its April monetary policy review. Sinha expects the GDP to expand by 7.1% in the current fiscal year, continuing the momentum observed in the first half.

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Published date : 22 May 2024 11:54AM