INDIAN ECONOMY ON STRONG FOOTING, WILL CONTINUE TO OUTPERFORM LARGE ECONOMIES
India’s GDP grew at a better than expected 7.6% in the second quarter of the current financial year 2023-24, as against 6.2% in the same quarter last fiscal. This is a slight moderation compared to the 7.8% GDP growth number of the Indian economy in Q1 FY24. So what drove the estimates beating GDP numbers and what’s the road ahead for the Indian economy?
India has retained its tag of being the fastest growing major global economy. Incidentally, S&P Global recently revised upwards its GDP growth forecasts for this fiscal from 6% to 6.4%. The Indian economy is on a strong footing led by domestic consumption, feel economists.