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SHIRSENDU KARMAKAR
GDP growth rate accelerated to 8.4% in Q3FY24; FY24 growth estimate at 7.6% In the previous quarter, it was 7.6 per cent and 7.8 per cent in the July quarter India's Gross Domestic Product (GDP) growth rate in the quarter ending December 31, 2023 (Q3FY24) was 8.4 per cent, according to the data released by the Centre on Thursday. This is higher than the Reserve Bank of India's (RBI's) estimate of 6.5 per cent, according to National Statistical Office (NSO) of Ministry of Statistics and Programme Implementation (MoSPI). Indian economy remained resilient with robust 7.6 per cent growth rate of GDP in FY 2023-24 over and above 7 per cent growth rate in FY2022-23 Double-digit growth rate of construction sector (10.7 per cent), followed by a good growth rate of Manufacturing sector (8.5 per cent) have boosted the GDP growth in FY 2023-24 ©SHIRSENDU KARMAKAR #GDP_OF_INDIA
SHIRSENDU KARMAKAR
IMF raises India's GDP growth projection for FY25 by 20 bps to 6.5% The International Monetary Fund (IMF) on Tuesday raised India’s growth projection for financial year 2025 by 20 basis points to 6.5 per cent in its update to the World Economic Outlook (WEO) amid buoyant domestic spending and better global growth prospects. For financial year 2024, the Fund raised the growth estimate for India by 40 basis points to 6.7 per cent compared to its October report. This is lower than the 7.3 per cent growth projected by the National Statistical Office earlier this month. “Growth in India is projected to remain strong at 6.5 per cent in both 2024 (FY25) and 2025 (FY26), with an upgrade from October of 0.2 percentage points for both years, reflecting resilience in domestic demand,” the IMF said in its report. ©SHIRSENDU KARMAKAR #IMF #GDP_Of_India
SHIRSENDU KARMAKAR
GDP growth will moderate to below 6% in December quarter: ICRA projection India had registered a Gross Domestic Product (GDP) growth rate of 7.6 per cent in the July to September period Rating agency ICRA has projected the GDP growth rate to slow down to below 6 per cent in the December quarter, mainly account of sharp fall in kharif crop output, and weak progress in rabi sowing for some crops. India had registered a Gross Domestic Product (GDP) growth rate of 7.6 per cent in the July to September period. The rating agency said the year-on-year growth in ICRA Business Activity Monitor eased for the second consecutive month to a six-month low of 8.1 per cent in December 2023 -- as against 7.9 per cent in December 2022 and 9.6 per cent in November 2023. ©SHIRSENDU KARMAKAR #GDP_Of_India
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