India’s FY24 GDP Growth At 8.2 Per Cent; Q4 Growth At 7.8 Per Cent

India GDP Data: India’s Gross Domestic Product (GDP) growth rate at 8.2 per cent, according to the data released by the Ministry of Statistics and Programme Implementation on Friday. The NSO data revealed that the country’s Q4 growth rate was recored at 7.8 per cent. The GDP had expanded 6.2 per cent in the January-March period of the 2022-23 fiscal year, according to the data released by the NSO.

India’s GDP growth rate for the third quarter of FY24 reached 8.4 per cent, significantly surpassing the Reserve Bank of India’s (RBI’s) estimate of 6.5 per cent, according to the NSO data.

In its annual report published on Thursday, the RBI forecast that the Indian economy is set to grow at a rate of 7 per cent for the current fiscal year starting in April. The report also noted that the Indian economy demonstrated strong growth momentum during the 2023-24 financial year (April 2023 to March 2024), with real GDP increasing by 7.6 per cent, up from 7.0 per cent the previous year. This marks the third consecutive year of growth at 7 percent or higher.

Meanwhile, the combined Index of Eight Core Industries (ICI) increased by 6.2 per cent (provisional) in April, 2024 as compared to the Index in April, 2023. 

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