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Date: 10/05/2024

India’s GDP grew at 8 pc in FY24, says CEA

India’s economy likely grew by 8% in 2023-24 and the expansion rate may be over 7% in the current financial year, said Chief Economic Adviser Mr V. Anantha Nageswaran. These are the highest among the developed and developing countries by far. He also said that any nasty upside surprises on inflation isn’t expected. GDP in real terms grew 8.4% in Q3FY24, 7.6% in Q2 and 7.8% in Q1. The government’s second advance estimate had pegged the growth rate at 7.6% for FY24. 
 
On the projection beyond FY25, the CEA said there is a possibility of India growing between 6.5-7% as balance sheet strength in the financial sector and the corporate sector has been strengthened. On inflation, he said a lot would depend on how the monsoon shapes up. Although the expectation is of an above-normal monsoon, spatial and temporal distribution will matter, he added, as per a report.
 
Source: Exim News Service: New Delhi, May 9



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