Key Points
After a stellar growth recorded in the December 2023 quarter, a global rating firm has boosted the GDP projections for India in 2024..
Moody's raised India's 2024 GDP growth estimate to 6.8% from 6.1%, keeping in mind the significant growth in the country's economy and exports/imports.24..
Further, the ratings agency predicted in its report that India's GDP growth for 2025 could be projected at 6.4 percent, as opposed to the earlier forecast of 6.3 percent..
"India's economy has performed well and stronger-than-expected data in 2023 has caused us to raise our 2024 growth estimate to 6.8 per cent from 6.1 per cent..
The prediction by Moody's comes after India's real GDP expanded 8.4 per cent year-over-year in the fourth quarter of calendar year 2023, resulting in a 7.7 per cent growth for full-year 2023..
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