Following a series of relatively strong growth numbers in the first three quarters of financial year 2023-24, Moody's has revised India's real GDP growth projection to 8 per cent for the full year.
The Asian Development Bank (ADB) has upgraded India's gross domestic product (GDP) growth forecast for financial year 2024 from 6.7 per cent to 7 per cent and 7.2 per cent in financial year 2025.
According to the rating agency, the economic growth in the current financial year was supported by a strong growth in investment demand led by public capital expenditure.
Investment rate in India is expected to accelerate to 36.2 per cent of GDP by 2026-27 from 32.2 per cent of GDP in 2022-23, according to Morgan Stanley.
Stressing the importance of making India a developed nation by 2047, Prime Minister Narendra Modi on Friday said that India is one of the fastest-growing major economies in the world today and highlighted the economic statistics for the latest quarter that emerged yesterday.
India Ratings and Research (Ind-Ra) expects the economy to grow at 6.5 per cent in the financial year 2024-25, 50 basis points lower than what was projected by the central government and the Reserve Bank of India (RBI) at its recent policy review.
The Indian economy is projected to grow close to 7 per cent in the financial year 2024-25 that starts this April, said the Ministry of Finance in its monthly review report.
Economic growth in India is projected to reach 6.2 per cent in 2024, slightly lower than the 6.3 per cent estimate for 2023, amid robust domestic demand and strong growth in the manufacturing and services sectors, the United Nations' World Economic Situation and Prospects 2024 report said
The Indian economy is expected to grow 7.3 per cent in the current financial year 2023-24, remaining the fastest-growing major economy, the National Statistics Office said on Friday.
Fitch Ratings expects India to be among the world's fastest-growing countries, with resilient GDP growth of 6.5 per cent in 2024-25. For the current financial year 2023-24, it pegs GDP growth at 6.9 per cent.
Indian stock indices - Sensex and Nifty - hit fresh highs at the opening bell Wednesday, due to a host of factors including a firm economic growth outlook and strong inflow of foreign investments.