GDP Data: The economic growth rate is estimated to be 4.6 percent during the third quarter of the financial year 2022-23 from October to December. State Bank of India’s Group Chief Economic Advisor Soumya Kanti Ghosh said that India’s GDP could be 7 percent in the financial year 2022-23, which was earlier estimated to be 6.8 percent.
Earlier, India Ratings said in its report that India’s GDP in 2023-24 can be only 5.9 percent, which is very low compared to all estimates. However, India Ratings said that from the government’s increased budget for capital expenditure to reduction in debt of corporates, decline in NPAs to PLI scheme and fall in commodity prices are positive for the Indian economy. However, this is not enough to take the GDP beyond 6 per cent in 2023-24.
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