According to Finance Minister Nirmala Sitharaman’s statement on Saturday, India’s GDP is expected to expand by 8% or more in the quarter that ends on March 31.
Sitharaman noted that due to enhanced macroeconomic stability and improved inflation control, the economy is anticipated to grow at the same rate in the 2023–2024 fiscal year.
“Hopefully the fourth quarter … will also have (growth) of 8% or above 8% resulting in 2023/24 having an average growth in GDP of 8% or over 8%,” Sitharaman said during an event in the financial hub of Mumbai.
In comparison to the previous quarter’s 7.6% growth, Asia’s third-largest economy increased by 8.4% year over year in the October–December quarter. The latest government projections put India’s economy’s growth rate for the current fiscal year, which ends on March 31, at 7.6%.
