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Date: 30/04/2024

GDP seen at a higher 7.8 pc for FY24: Deloitte

India’s economic growth projection for the previous financial year has been revised to a range of 7.6 to 7.8%, according to Deloitte India’s latest economic outlook report. In January, the firm had projected growth for the 2023-24 fiscal in the range of 6.9-7.2%. India’s gross domestic product will likely grow by 6.6% in the current financial year, aided by consumption expenditure, exports rebound and capital flows. Deloitte also estimates the country’s GDP growth to be around 6.6% in FY 2024-25 and 6.75% in the year after, as markets learn to factor in geopolitical uncertainties in their investment and consumption decisions. With the expectation that the number of middle-to-high-income segments will be one in two households by 2030-31, up from one in four currently, Deloitte believes this trend will likely become further amplified, driving overall private consumer expenditure growth, as per a report.
 
source: Exim News Service: New Delhi, April 29



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