India’s Gross Domestic Product (GDP) is estimated to grow 7.3 per cent in 2023-24, according to the first advance estimates of national income released by the National Statistical Office (NSO) yesterday. Higher investment coupled with government expenditure along with a pickup in sectoral outputs of mining, manufacturing, construction and financial services, are seen supporting the higher GDP growth.
The Indian economy is expected to grow faster in FY24 at 7.3 per cent compared to 7.2 per cent in the previous year, according to the first official estimates. The Reserve Bank of India had pegged growth at 7 per cent. The Government estimates highlight the economy may grow 6.9 per cent in the second half, spurred by higher investment and manufacturing.
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