NEW DELHI: Finance minister Nirmala Sitharaman on Saturday said that the country’s GDP is set to grow by 8% or more in the quarter ending March 31.
Speaking during an event in the financial hub of Mumbai, Sitharaman said, “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 highlighted the expected year-on-year expansion rate of 8% for the 2023/24 financial year, attributing it to improved inflation management and macroeconomic stability.
The GDP data for the Jan-March quarter is scheduled for release on May 31. India’s economy recorded an 8.4% growth in the October-December quarter, surpassing the previous quarter’s 7.6% growth. The current fiscal year is projected to witness a 7.6% economic growth by March 31, according to government estimates.
Speaking during an event in the financial hub of Mumbai, Sitharaman said, “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 highlighted the expected year-on-year expansion rate of 8% for the 2023/24 financial year, attributing it to improved inflation management and macroeconomic stability.
The GDP data for the Jan-March quarter is scheduled for release on May 31. India’s economy recorded an 8.4% growth in the October-December quarter, surpassing the previous quarter’s 7.6% growth. The current fiscal year is projected to witness a 7.6% economic growth by March 31, according to government estimates.