According to a Goldman Sachs report, India's real GDP growth rate is likely to slow marginally to 6.3 percent in 2024 compared to an estimated 6.4 percent in 2023.
National
According to a Goldman Sachs report, India's real GDP growth rate is likely to slow marginally to 6.3 percent in 2024 compared to an estimated 6.4 percent in 2023. The report says this is likely to be a tale of two parts. “As we head towards general elections in the second quarter of 2024, subsidies and transfer payments will likely be the growth driver in the first half. "We expect the government to continue its focus on capital expenditure given the medium-term fiscal consolidation path, with the growth rate in capital expenditure likely to moderate from the next fiscal year onwards," the report said. In our view the risks around the growth outlook are evenly balanced, with the main domestic risk arising from political uncertainty with elections due in the second quarter of 2024. Macroeconomic resilience in recent years has helped India achieve a high score in the JPM GBI. EM Global Diversified Index and scale-in could induce passive inflows of around US$25-30 billion over the period. ​
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