Experts predict a moderation in India’s GDP growth for the third quarter of FY24 to 6%-7% due to a slowdown in agriculture and industrial sectors. ICRA expects GDP growth to decline to 6.0% in Q3FY24 from 7.6% in the previous quarter, with the industrial sector facing challenges from adverse base effects and volume expansion deceleration. Bank of Baroda forecasts GDP growth to slow down to 6.4% in Q3FY24, following a robust 7.6% increase in the previous quarter. The shift in growth is not uniform across sectors, with agriculture showing modest growth and the industrial sector experiencing a slowdown.
Experts Anticipate GDP Growth Moderation in India for Q3 FY24
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