India Ratings raises GDP growth forecast for FY’24 to 6.7% from 6.2%!
Economy Business
According to Ind-Ra, the other factors that will boost the growth are: sustained government capex, deleveraged balance sheet of corporates/banking sector, the prospect of a new private corporate capex cycle, and sustained momentum in business and software services exports, coupled with remittances from the rest of the world despite global headwinds. However, it said there are risks to the global growth. The World Trade Organization (WTO) expects the world merchandise trade volume to have grown only 0.8 per cent as against the expected 1.7 per cent in 2023. However, WTO expects world merchandise trade volume to grow 3.3 per cent in 2024.
India Ratings and Research (Ind-Ra) has revised upwards India’s gross domestic product (GDP) growth estimate for FY24 to 6.7 per cent from earlier 6.2 per cen
About GDP (Gross Domestic Product):
Gross domestic product (GDP) is a standard measure of the value added created through the production of goods and services in a country during a given period.
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