India’s Finance Minister Predicts GDP Growth of 8% or Higher in January-March Quarter

India’s gross domestic product (GDP) (INGDPQ=ECI) is poised to achieve a growth rate of 8% or higher in the quarter ending March 31, as stated by Finance Minister Nirmala Sitharaman on Saturday.

Sitharaman further indicated that the economy is anticipated to maintain the same level of year-on-year expansion throughout the 2023/24 financial year, attributing it to the positive impact of enhanced inflation management and macroeconomic stability.

India's Finance Minister Predicts GDP Growth of 8% or Higher in January-March Quarter
Asia’s third-largest economy achieves 8.4% growth in Oct-Dec quarter, outpacing the previous quarter’s performance.

“Hopefully the fourth quarter … will also have (growth) of 8% or above 8% resulting in 2023/24 having an average growth in GDP of 8% or over 8%,” Sitharaman remarked during an event held in Mumbai, the financial capital.

The release of India’s GDP data for the Jan-March quarter is scheduled for May 31.

India's Finance Minister Predicts GDP Growth of 8% or Higher in January-March Quarter
Projected 7.6% growth for India’s economy in the current fiscal year, ending March 31, according to the latest government estimates.

In the October-December quarter, Asia’s third-largest economy experienced a growth rate of 8.4% year-on-year, surpassing the 7.6% growth recorded in the preceding quarter.

According to the latest government estimates, India’s economy is forecasted to expand by 7.6% in the current fiscal year, ending on March 31.

Jackson Kelley
Jackson Kelley
Jackson is a political activist and market expert. He covers the impact of politics on the market and global economy.
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