India’s economy expanded by 7.8% in the January-March quarter of 2024 compared to the same period a year earlier, according to government data. This growth is slightly lower than the 8.4% growth recorded in the previous quarter and below the 8.6% expansion seen in the December quarter of 2023.
The manufacturing sector saw an 8.9% year-on-year increase in output for the three months ending in March, down from the revised 11.5% growth in the previous quarter. Agricultural output growth improved to 0.6% from a revised 0.4% in the previous quarter.
Data from the National Statistical Office (NSO) indicated that India’s GDP grew by 6.2% in the January-March period of the 2022-23 fiscal year. For the full fiscal year 2023-24, the Indian economy expanded by 8.2%, up from 7% growth in 2022-23. The NSO’s second advance estimate had projected India’s growth at 7.7% for 2023-24.
Moody’s Ratings projects India to grow by 6.8% in the current year and 6.5% in 2025, citing strong economic expansion and policy continuity post-elections. “We believe the Indian economy should comfortably register 6-7% annual real GDP growth and we forecast around 6.8% growth,” Moody’s stated.
In comparison, China’s economy grew by 5.3% year-on-year, while the US economy expanded at an annualized rate of 1.3% in the March quarter, amidst signs of easing inflation.
The incident, caused by a boiler explosion, affected seventeen workers from Bihar, Uttar Pradesh, and…
North Bengal to Kolkata on the Uttar Banga Express sustained serious head injuries when the…
Pimples, also known as acne, can be caused by a variety of factors including hormonal…
The recent classification of talc as "probably carcinogenic to humans" by the WHO cancer agency,…
An investigation by SEBI also revealed that Kotak Mahindra and Hindenburg conspired to take short…
The girl was abducted from her home on the night of July 1 and taken…