India GDP 8.4%: The government has said that the India’s GDP growth rate in the third quarter has been 8.4 per cent. These economic figures are much higher than the forecasts. Find out more...
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India GDP Grows 8.4%:The government has said that the India’s GDP growth rate in the third quarter has been 8.4 per cent. These economic figures are much higher than the forecasts. The pace of GDP growth has accelerated due to the increase in manufacturing activities and government spending in the country.
India GDP: The government has released India's Q3 GDP data for the December quarter of the current financial year. The Indian economy is growing at a fast pace. In fact, the government has said that the country's GDP growth rate in the third quarter has been 8.4%. These economic figures are much higher than the forecasts. The pace of GDP growth has accelerated due to the increase in manufacturing activities and government spending in the country. The GDP growth was 7.6% in the previous quarter.
Significantly, India remains the fastest growing economy in the world and it has been praised from the World Bank to the IMF. Now the spectacular figures of the third quarter are also putting their stamp on the rapid pace of the economy. Data released by the Ministry of Statistics and Programme Implementation on February 29 showed that India's gross domestic product (GDP) grew at a faster pace in the December quarter. The 8.4% year-on-year growth is the strongest since the second quarter of 2022, well above the 6.6% forecast.
Prime Minister Narendra Modi also tweeted on the occasion. "A strong GDP growth of 8.4% in the third quarter of FY 2023-24 shows the strength of the Indian economy and our potential," "PM Modi wrote in the post on his social media platform." Our efforts will continue to bring about faster economic growth. This will help 140 crore Indians lead a better life and create a developed India.
For the third quarter of the financial year 2023-24, the Economic Research Department of SBI had released its analysis predicting GDP growth. The agency had projected a GDP growth rate of 6.8%. The RBI had also projected 7 per cent GDP growth in the third quarter of FY 2024. Rating agency ICRA had projected a GDP growth of just 6% in the December 2023 quarter. But the data that has come out, surpasses all these predictions.
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