Key Points
NEW DELHI: India's gross domestic product(GDP) grew by 7.2 per cent in FY2022-23 against 9.1 per cent expansion in previous fiscal, as per the government data released on Wednesday...
Despite the rate of GDP growth coming at a slightly lower rate to the previous year, India remains one of the fastest-growing economies among major global players...
The GDP growth for FY2022-23 at 7.2% is higher than the 7% median estimate in a Bloomberg survey as well as the governments forecast made three months ago...
Meanwhile the United States is battling persistently elevated inflation, Germany is in a technical recession amid an energy crisis triggered by the Ukraine war, and Japan expanded by just 0.4 percent in the first quarter.. the previous quarter while farm output rose 5.5% compared to 3.7% growth in the same period...
"The GDP growth surprised (by being) significantly higher than expected for the fourth quarter, taking the full-year number to 7.2% in 2022-23..
You might be interested in
GDP set to grow 8% or more in Jan-March quarter: FM Nirmala Sitharaman
30, Mar, 24Nirmala Sitharaman projects 8% GDP growth for India in Q4 and 2023/24, focusing on inflation management and macroeconomic stability. The Reserve Bank of India governor is optimistic, foreseeing growth closer to 8%.
IMF cuts GDP growth forecast to 5.9%
12, Apr, 23India Business News: The International Monetary Fund (IMF) on Tuesday cut India's GDP growth forecast to 5.9% for 2023-24. This is the lowest estimate among the multilater
India's economy to expand at 7% in FY23; FY22 GDP growth rate revised to 9.1%
28, Feb, 23The government released the second advance estimate of the GDP (Gross Domestic Product) for 2022-23 along with December quarter data today
India's GDP growth to exceed govt estimate of 7.6% in FY24, may touch 8%: RBI Governor Das
06, Mar, 24Reserve Bank of India Governor Shaktikanta Das predicts India's current fiscal year GDP growth to surpass the government's estimate of 7.6%, possibly reaching 8%. He expresses optimism about the next fiscal year, foreseeing a 7% growth rate. This aligns with a similar outlook from the State Bank of India, emphasizing the resilience of India's economic performance.
India to grow at 6.5-6.8 pc this fiscal; festive, govt spending to drive growth: Deloitte
19, Oct, 23Deloitte India predicts that the country's GDP growth for the current fiscal year will be between 6.5-6.8%, driven by festive spending and increased government expenditure ahead of the national elections in 2019. The report also states that India needs at least 6.5% growth each year to become the world's third largest economy by 2027, and 8-9% growth to become a developed country by 2047. Deloitte highlights the importance of domestic demand, particularly private consumption and investment spending, to fuel India's growth amidst geopolitical uncertainties and a global economic slowdown.
S&P keeps India's economic growth forecast unchanged at 6% for FY24
27, Mar, 23The agency's projections for the country's GDP saw the indicator growing by 7% in the current financial year (ending March 31), later slowing down to 6% in 2023-24. India leads, with average growth of 7% in 2024-2026, the update said.