
Economic momentum continues, upside to FY24 GDP growth likely: CEA
"We may be underestimating India's GDP, based on the current statistics, rather than overestimating it," says V Anantha Nageswaran
"We may be underestimating India's GDP, based on the current statistics, rather than overestimating it," says V Anantha Nageswaran
This is higher than the monetary policy committee's forecast of 6.5% GDP growth in Q2.
S&P Global slashes its outlook for growth in FY25 to 6.4%, from 6.9%
Ratings agency maintains FY24 GDP growth estimates at 6%, lower than MPC’s projection of 6.5% for the fiscal
GDP will grow primarily due to festive spending in the coming months followed by higher government spending before the upcoming general elections mid-next year
World Bank attributes resilience to "robust domestic demand, strong public infrastructure investment, and a strengthening financial sector"
This year's roster of India's dollar billionaires is a reaffirmation that the growth story is not ephemeral but perpetual.
New investment projects announced by the private sector have been the highest in Q1 of FY24 in 14 years, says CEA V. Anantha Nageswaran.
According to Deloitte, investment is also showing 'traction' and the credit-deposit ratio has continued to improve strongly from the lows of the pandemic despite the rising interest rates.
For Q4 FY23, SBI projects the country's GDP will grow at 5.5%.