India’s GDP to grow 7.3 per cent in 2023–24: Statistical Office estimates

India’s GDP is projected to grow by 7.3% in the financial year 2023–24, making it the fastest-growing major economy, according to estimates from the National Statistics Office. This follows a growth of 7.2% in 2022–23 and 8.7% in 2021–22. The Reserve Bank of India recently raised its growth forecast to 7%, contributing to the positive outlook. The strong performance is attributed to factors such as robust rabi crops, a resilient manufacturing sector, and improved demand conditions. However, these are preliminary projections, subject to potential revisions based on updated data and economic factors.

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