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India's GDP growth for the third quarter (YoY) surpassed expectations, recording an actual rate of 8.4%, outperforming the anticipated 6.6%, and exceeding the previous quarter's 7.6%.
Real GDP or GDP at Constant (2011-12) Prices in the year 2023-24 is estimated to attain a level of Rs 172.90 lakh crore, against the FRE (first revised estimates)of GDP for the year 2022-23 of Rs 160.71 lakh crore. India’s GDP Growth at Massive 8.4% in October-December Quarter; Financial Year 2023-24 Growth Upwardly Revised at 7.6%.
Also, National Statistical Office revised the GDP growth for 2022-23 to 7% against the earlier estimate of 7.2%
Get latest articles and stories on India at LatestLY. The CEA said that demand conditions are favourable, reflected in healthy passenger vehicle sales, domestic air passenger traffic, and a buoyant construction sector India News | Global Agencies Will Reassess GDP Estimates About India: Chief Economic Advisor Nageswaran.
Markets may not be too enthused by the GDP boost since growth seems to have come on the back of base revision, and net tax collection growth without the supporting GVA gain