India Q4 GDP Data Live Updates: FY24 growth likely to hit 8%, Q4 print moderate on agricultural slowdown
India Q4 GDP Data Live Updates: India's gross domestic product (GDP) for the January-March quarter of fiscal 2023-24 (Q4FY24) and the full year (FY24) will be released on Friday, May 31. The macroeconomic data will come only days ahead of the high-stakes Lok Sabha election results 2024, due on Tuesday, June 4.
The Reserve Bank of India (RBI) expects the economy to grow by eight per cent this fiscal year, which would be the highest among large economies globally.In the previous October-December quarter (Q3FY24), the economy grew at its fastest pace in six quarters at 8.4 per cent - remaining the fastest-growing major economy in the world. In the current economic scenario, the International Monetary Fund (IMF) raised India's GDP growth projection by 30 basis points to 6.8 per cent in FY24 citing buoyant domestic demand.Several brokerage reports and analysts are predicting that India's GDP growth in FY24 likely rose above 7.5 per cent and may hit eight per cent on strong base fundamentals.
India is among the world's fastest-growing economies but growth is below what is needed to create jobs in the economy, according to economists. Based on the IIP trends in 1Q24, sectors like basic metals, transport equipment, pharma, petroleum, and chemicals are back to pre-pandemic levels.
Large scale electronics, especially telecom instruments meanwhile, continues to benefit from improving production trends and indigenisation of the value chain players, according to Radhika Rao of DBS BankBusiness sentiments held up, captured by optimism on production and capacity utilisation, accompanied by a record high in e-way bills and double-digit jump in toll collections in March. General government capital spending picked pace ahead of the
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