RBI estimates 7% GDP in FY24 and IMF 6.7%
International rating agencies have endorsed India’s strong economic growths, supported by increasing investment flow into the country and the vibrating manufacturing sector.
India can export 6.6% y-o-y GDP growth in calendar year 2024, according to Goldman Sachs Economic Research report while Moody’s sees 6.8%, up 6.1% previously, according to reports in Indian media on 28 Mar.
The Reserve Bank of India’s GDP growth estimate for FY24 is 7%, while the International Monetary Fund forecasts 6.7%.
The statistics ministry last month raised its GDP growth estimate for FY24 to 7.6% in its second revised estimate, up from 7.3% in its first advance forecast, amid strong investment growth in plant and machinery and robust manufacturing growth, despite consumption and government spending growing slower than previously estimated. Fiinews.com
