Global rating agency Moody's raised India's GDP growth projection for 2024 calendar year to 6.8%, up from the 6.1% earlier.

Economy Business

Global rating agency Moody's raised India's GDP growth projection for 2024 calendar year to 6.8%, up from the 6.1% earlier. The increase in estimate was attributed to India's robust economic performance in 2023 and diminishing global economic challenges. Surpassing the analysts' expectations of 6.6 percent, India's economy grew 8.4 percent during the October-December quarter. However, the gross value added (GVA), which is a measure of the total value of goods and services produced in the economy and excludes indirect taxes and subsidies, grew 6.5 percent. This year's interim budget targets capital expenditure allocation of Rs11.1 lakh crore or 3.4 percent of GDP in 2024-25 (fiscal year 2025), 16.9 percent above the 2023-24 estimates.


      India's GDP growth is estimated at 7.6% for the year ending March 31, 2024.

      For 2025, the GDP growth is estimated at 6.4%.

     

 

     


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