GDP growth to dip to a four-quarter low of 6.7% in Q4 FY2024 from 8.4% in Q3: ICRA.

Economy Business

ICRA has projected the year-on-year (YoY) expansion of the GDP to moderate to a four-quarter low 6.7% in Q4 FY2024 from 8.4% in Q3 FY2024. Further, the growth in the gross value added (GVA) is estimated to ease to 5.7% in Q4 FY2024 from 6.5% in Q3 FY2024, driven by the industrial (to +7.9% from +10.4%) and services (to +6.2% from+7.0%) sectors. The agricultural GVA is expected to contract for the second straight quarter in Q4 FY2024 (-0.5%),at a pace similar to Q3 (-0.8%), amid weak trends in the rabi output (barring wheat) and concerns related to yields.


      Further, the gap between the GDP and the GVA growth is likely to moderate to ~100 basis points (bps) in Q4 FY2024 from the particularly high 185 bps in the previous quarter.

     

     

 

     


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