India’s economy grew by 7.8% in Q4 and 8.2% in FY24, according to live updates on Q4 GDP growth data.

GDP expanded by 7.2 percent in FY23 but by 8.2 percent in 2023–2024.
India’s economy grew by 7.8%

GDP of India as of Q4: According to government figures, India’s GDP grew by 7.8% during the January–March quarter from a year earlier, down from 8.4% growth during the preceding quarter. Compared to the 8.6% growth in the December quarter, the January–March period saw less growth. The gross domestic product (GDP) increased 6.2% during the January–March quarter of the 2022–2023 fiscal year, according to data issued by the National Statistical Office (NSO).
The Indian economy grew by 8.2 percent in 2023–2024 compared to a growth of 7% in 2022–2023, according to the data. India’s growth was estimated by the NSO to be 7.7% in its second advance estimate of the national accounts.

India's economy grew by 7.8%
India’s economy grew by 7.8%

This is in addition to Moody’s Ratings’ prediction that India will expand 6.8% this year and 6.5% in 2025 due to robust economic expansion and continued post-election policy. “We think the Indian economy should easily register 6-7 percent annual real GDP growth, and we forecast around 6.8 percent growth,” the statement read.

India’s economy grew by 7.8%. Live Updates on Q4 GDP Growth Statistics for India: In the fourth quarter of the fiscal year 2023–24, India’s GDP, or gross domestic product, increased by 7.8%. Real GDP growth for the entire fiscal year is estimated to be 8.2%. Several polls had predicted that the Indian economy would have grown at a slower rate in the fourth quarter, to an annual 6.7%. The Q4 FY24 GDP growth statistics were revealed at 5:30 PM today. In the third quarter of FY24 (October–December 2023), the Indian GDP surprisingly expanded by 8.4%. It is improbable that this GDP growth rate would have sustained in the fourth quarter, according to economists.

India’s economy grew by 7.8%. In the meantime, the Reserve Bank of India (RBI) stated in its annual report that it anticipates 7% growth in the Indian economy in the current fiscal year, FY25. India is currently the fifth-largest economy in the world and has the fastest-growing major economy globally. After the US and China, it is predicted to grow to be the third-largest economy in the world in the upcoming years.

The Reserve Bank of India (RBI) reports that the Indian economy grew strongly in 2023–2024 (the April 2023–March 2024 fiscal year). Real GDP growth increased to 7.6% from 7.0% in the prior year, marking the third consecutive year of growth of 7% or more.

GDP Growth Data for India for the Fourth Quarter: Specifics

Real GDP, or GDP at constant prices, is expected to rise at a 7.8% annual pace in the fourth quarter of 2023–24, from ₹43.84 lakh crore in the fourth quarter of 2022–23 to ₹47.24 lakh crore in 2023–24. The anticipated GDP at current prices, or nominal GDP, for the fourth quarter of 2023–2024 is ₹78.28 lakh crore, up from ₹71.23 lakh crore in the corresponding period of 2022–2023—a growth rate of 9.9%.

India’s economy grew by 7.8%. With a growth rate of 6.3%, real gross value added (GVA) is predicted to be ₹42.23 lakh crore in the fourth quarter of 2023–24 as opposed to ₹39.74 lakh crore in the same period in 2022–23. The estimated nominal GVA for the fourth quarter of 2023–2024 is ₹70.97 lakh crore, up 8.0% from ₹65.74 lakh crore in the corresponding period in 2022–2023.

India’s GDP growth for the fourth quarter is 8.2% for FY24.

 

Real GDP is expected to rise by 8.2% in FY 2023–24 as opposed to 7.0% in FY 2022–23, and nominal GDP is expected to grow at a rate of 9.6% in FY 2023–24 as opposed to 14.2% in FY 2022–23.
From 6.7% in 2022–2023 to 7.2% in 2023–2024, real GVA grew. This increase is a result of the manufacturing sector growing by 9.9% in 2023–24, a notable improvement from -2.2% in 2022–23, and the mining & quarrying sector growing by 7.1% in 2023–24, up from 1.9% in 2022–23.

 

 

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