Indian Gdp News

Indian economy continues to be the cynosure of all eyes. India's GDP growth prospects are hogging the limelight once again after UN’s department of economic and social affairs in its recent report said that India will continue to be the fastest growing major economy in the world. The report titled ‘World Economic Situation and Prospects 2024’ goes onto say that India’s GDP growth is projected to hit 6.2% in 2024.

Despite global economic and geopolitical concerns, India is expected to grow over 6% this year. Union Finance Minister Nirmala Sitharaman stated at the 107th Development Committee meeting at the International Monetary Fund (IMF) and World Bank annual meeting that current headwinds and strained global supply chains have put tremendous pressure on the global economy, as evidenced by persistently high interest rates, northbound inflationary pressures, and currency depreciation.

Christopher Wood, global head of equity strategy, at Jefferies, has stated that he is still overweight on India, with 39% of the portfolio invested in the Indian market in the Asia ex-Japan long-only portfolio.

India's GDP growth in the fourth quarter of FY23 exceeded expectations, driven by agriculture, net exports, vehicle production, construction, and service sectors. However, concerns arise about the sustainability of this momentum and a potential slowdown in FY24. The video explores the factors behind the growth, challenges faced, and the importance of sound policies to maintain economic momentum amid global conditions and policy responses.

Amid global economic slowdown Indian economy remains the lone bright spot. India’s 2023 Q4 GDP rose to 6.1% while the rest of the world is experiencing a slowdown. In the fourth quarter, India's economy saw a significant increase and clocked a better-than-estimated growth. While the 4.4% growth rate witnessed in Q3 was below expectations, in Q4FY23, GDP growth climbed to 6.1%. The overall growth in the FY23 fiscal is better than expected at 7.2%.

Rather than chase $5-trillion and $10-trillion landmarks for the economy, policymakers should address immediate bottlenecks

The RBI cited volatile crude oil prices and global financial market developments as risks that will force policy makers to remain vigilant

The UN WESP launched at the UN on Thursday said GDP growth in India is expected to climb to 7.5 and 7.6% in fiscal years 2017-18 and 2018-19 respectively

India's GDP is expected to reach $5 trillion by 2025 by leveraging on digitisation, globalisation, favourable demographics and structural reforms, says economic affairs secretary Subhash Chandra Garg

The reforms undertaken by the Narendra Modi govt have been ‘significant’ and the results would be reflected in the mid- and long-term growth figures, the World Bank chief Jim Yong Kim said