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Moody’s Raises India's GDP Growth Projection to 7.2% for 2024
The rating agency said household spending would increase as inflation approaches the target of the Reserve Bank of India. Better farming output because of above-average rainfall in the current monsoon season is driving early signs of pick-up in rural demand. "This projection is supported by solid, all-inclusive growth", said Moody's in a statement, adding that further upward revision to their forecast will be done if private consumption grows further.
IMF's Gita Gopinath Optimistic About India's Economic Growth Prospects
It is projected that by the end of the decade, India will have assumed its place as the fifth-largest economy in the world and be well on its path to taking a place in the top three global economic powers.
RBI Projects 7.2% GDP Growth Driven by Strong Urban and Rural Demand
Against this background, real GDP growth for 2024-25 is projected at 7.2 per cent, with quarterly growth rates of 7.1 per cent in Q1, 7.2 per cent in Q2, 7.3 per cent in Q3, and 7.2 per cent in Q4.
India Projected to Achieve 7.2% GDP Growth in 2024-25, Says Report
A host of steps proposed in the Union Budget for 2024-25 will lead to improved agricultural productivity, creation of job opportunities for the country's youth, and strong manufacturing, according to Deloitte's update on the economic outlook of India made in August. Supply-side demand will rise, inflationary pressures will be reduced at the same time, and consumer spending will be encouraged, especially in rural areas.
CII Projects Strong GDP Growth for India Beyond Economic Survey's FY25 Forecast
He further added that such optimism is due to the fact that it was a result of nimble macro-financial management supported by a slew of policies which focused on capital expenditure and kept a fine rein on inflation."
IMF Boosts India’s 2024-25 GDP Growth Projection to 7%
https://thenewsmen.co.in/business/indias-defense-exports-surge-30fold-in-the-past-decade/130617
India's GDP Growth Projected to Approach 7.5% in 2024-25: NCAER Report
The June monthly economic review highlights that the optimistic outlook is driven by strong economic activity in the first quarter, focused policy measures on investment and growth, macroeconomic stability, and the anticipation of a normal monsoon season.
India's External Debt Ratio Declines to 18.7% by March 2024
On a standalone basis, India's ex-debt was at $663.8 billion as of March 2024, higher by $39.7 billion than in March 2023. Significantly, with India's GDP growth surging in the meantime, it helps reduce India's debt-to-GDP ratio.
RBI Governor Forecasts India's Consistent Path to 8% GDP Growth
He was said to be speaking at the 188th AGM of Bombay Chamber of Commerce & Industry, where he noted that in the past three years, India had clocked an average growth of 8.3% and is currently projected at 7.2%. He added that the country has a very robust growth momentum and is likely to grow at 8% steadily in future.
India's Manufacturing Sector Set to Surge: Projected $1.66 Trillion Market by FY34, GDP Share to Reach 21%
These projections estimate that the share of manufacturing in GDP increased from 14% in FY 24 to around 21% in FY34. According to DSP Mutual Fund, this increase can be attributed to lowered logistics costs and infrastructure development. On the optimistic side, investments in infrastructure are likely to rise from 33 percent of GDP in FY24 to 36 percent by FY29, which may trigger the broader economic benefits.
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