Exim

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Date: 29/03/2023

India’s GDP seen at 6 pc in FY24: S&P

India’s economic growth is seen unchanged at 6 per cent in the fiscal year starting April 1, 2023 before rising to 6.9 per cent in the following year, as per S&P’s quarterly economic update for Asia-Pacific. It saw India’s gross domestic product (GDP) likely growing by 7 per cent in the current financial year ending March 31 (2022-23), before slowing to 6 per cent in the next 2023-24 fiscal. India leads, with an average growth of 7 per cent during 2024-2026. GDP is projected to rise to 6.9 per cent in 2024-25 and 2025-26, and to 7.1 per cent in 2026-27. In India domestic demand has traditionally led the economy. But it has become more sensitive to the global cycle lately, in part due to rising commodity exports, as per a report.

Source: Exim News Service: Singapore, March 28