India's GDP growth for Q4FY24 anticipated at 6.1-6.7%, lower than the plus-8% of previous three quarters: Report

New Delhi/IBNS:  India's Gross Domestic Product (GDP) in the fourth quarter of the financial year 2023-24 is projected to have grown between 6.1 percent and 6.7 percent, a decline from the over 8 percent growth rate noticed in the previous three quarters, reports said.

IBNS • 27 May 2024, 06:54 am

According to reports, the Government of India is set to release the GDP figures for the fourth quarter (January-March) of FY24 and the provisional estimates for the 2023-24 fiscal year on May 31.

The country's GDP grew 8.4 percent in the December quarter, the highest in six quarters, while India's economy grew last time at a faster clip in the first quarter of 2022-23, when it clocked a growth of 13.1 percent, which was later revised down to 12.8 percent, as per reports.

According to economists' estimates, the overall growth for the 2023-24 fiscal year will be in the range of 7.6 percent to 7.8 percent.

The Indian economy reported growth rates of 8.2 percent in the June quarter, 8.1 percent in the September quarter, and 8.4 percent in the December quarter of 2023-24, according to reports.