India's gdp growth in q1 fy24 to touch 8.3pc.
India's GDP growth in Q1 FY24 will stand at 8.3 percent as compared to the Reserve Bank of India's (RBI) estimate of 7.8-8.0 percent, noted the latest State Bank of India's Economic Research Department's report, SBI Ecowrap. The report added that total FY24 growth will be higher than 6.5 percent.
The International Monetary Fund (IMF) had projected India's growth at 6.1 percent in 2023, a 0.2 percentage point upward revision compared with the April projection, due to stronger-than-expected growth in the fourth quarter of 2022 as a result of stronger domestic investment.
SBI's report noted that despite headwinds, economic activity in India remained resilient in the April-June quarter of FY24, driven mainly by the growth in the services sector.
"Gross fixed capital formation (GFCF) and industrial production...
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