• Mon. May 27th, 2024

India’s GDP growth seen at 7.3% amid global slowdown

Byusanewscart.com

Jan 5, 2024
India's GDP growth seen at 7.3% amid global slowdown

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NEW DELHI: India’s economy is estimated to grow by 7.3% in the current fiscal year ending March, powered by robust manufacturing, construction and mining sector expansion – a stellar performance against the backdrop of a slowing global economy and geopolitical upheaval.

The first advance estimates released by National Statistical Office on Friday showed the economy is projected to perform better than RBI’s projection of 7% for 2023-24 and higher than the earlier estimates of 6.5% growth.

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The strong second-quarter performance of 7.6% had prompted several agencies to upgrade India’s growth projections citing robust domestic demand. India continues to remain the fastest-growing major economy in the world as China’s growth slows led by a raft of problems, including real estate sector woes. The strong data comes ahead of the February 1 interim budget and before LS elections due in May and is likely to bolster government’s record of handling the economy against the backdrop of global turbulence.



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