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Addressing a public rally in Dhanbad's Sindri, PM Modi underlined that the growth rate of 8.4 percent registered during the financial quarter from October to December 2023 showcases India's growing potential and fast-paced development towards realising the goal of Viksit Bharat.
In Q3FY24, the Indian economy outperformed expectations, growing at 8.4%, surpassing the predicted 6.6% rate. However, a significant divergence between GDP and Gross Value Added (GVA) raised concerns, with GVA growth at 6.5%. Economists caution that the high GDP may not reflect balanced growth, citing a decline in agriculture, uneven private consumption, and increased reliance on public capex.
The 8.4 percent Q3 GDP growth rate is the highest in seven quarters, albeit on a lower base.
India Emerges as Among Fastest-Growing Major Economies, Says PM Modi - Newsx
India's GDP grew at a massive 8.4 per cent during the October-December quarter of the current financial year 2023-24, and the country continued to remain