India Ratings and Research forecasts the country’s GDP growth at 6.7% for the March 2024 quarter and 6.9-7% for the fiscal year 2023-24. The government will release the official figures on May 31. India’s economy grew significantly in the first three quarters of FY24, with rates of 8.2%, 8.1%, and 8.4%, respectively. The high growth in the third quarter was partly driven by increased tax collections, a trend unlikely to continue in the fourth quarter. The Reserve Bank of India projects a 7% GDP growth for FY24. Analyst Sunil Kumar Sinha expects momentum to persist into FY25, especially in the services sector.
India’s GDP Growth Projected at 6.7% for Q4, 6.9-7% for FY24
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