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FY24 India Growth Projection UPSC NOTE


FY24 India growth projection

  • S&P Global Ratings retained India’s GDP growth forecast at 6% saying India will be the fastest-growing economy among Asia-Pacific nations.

  • The GDP growth forecast for the current and the next fiscal has been kept unchanged from the forecast made in March partly on account of domestic resilience.

  • India's economy is expected to grow at about 6% along with Vietnam and the Philippines on account of domestic resilience.

  • The medium-term growth outlook remains relatively solid. The Asian emerging market economies remain among the fastest growing ones in  global growth outlook through 2026.

  • S&P said retail inflation is likely to soften to 5% this fiscal from 6.7%, and the RBI is expected to cut interest rates only early next year. 

  • The inflation and rate hike cycles have peaked.

  • RBI is expected to cut rates only in early 2024, as it wants to see inflation moving to 4%.

  • S&P has lowered the growth forecast for China to 5.2% from 5.5% for 2023.



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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: FY24 India Growth Projection UPSC NOTE
FY24 India Growth Projection UPSC NOTE
Learnerz IAS | Concept oriented UPSC Classes in Malayalam
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