Finance Minister Nirmala Sitharaman announced on Saturday that India’s gross domestic product (GDP) is poised to expand by 8% or more in the quarter ending March 31. Sitharaman expressed confidence that the economy would maintain the same level of year-on-year growth for the 2023/24 financial year, citing improved inflation management and macroeconomic stability as contributing factors.
During an event in Mumbai, Sitharaman stated, “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%.”
The official GDP data for the January-March quarter is scheduled to be released on May 31.
India’s economy exhibited a robust growth rate of 8.4% in the October-December quarter compared to the same period the previous year, surpassing the 7.6% growth recorded in the preceding quarter.
According to the latest government estimates, India’s economy is projected to expand by 7.6% in the current fiscal year ending on March 31.
