New Delhi: International rating agency, ICRA projected India’s GDP to grow 6.4 per cent in the December quarter. ICRA has projected the economy to grow at 6.4 per cent in Q3 from 5.4 per cent in Q2. This projections is based on account of enhanced government spending amid uneven consumption. The Indian economy grew at 6.7 per cent in April-June, but it slowed to a seven-quarter low of 5.4 per cent in September quarter.
ICRA Chief Economist Aditi Nayar said India’s economic performance in Q3 FY2025 benefitted from a sharp ramp-up in aggregate government spending (Centre and state) on capital and revenue expenditure, high growth in services exports, a turnaround in merchandise exports, healthy output of major kharif crops etc, which would have buffered rural sentiment.
Also Read: Foreign Institutional Investors purchase Indian equities worth Rs 4787 crore
The National Statistical Office (NSO) will release the October- December growth estimates on February 28. It will also release the second advance estimates of GDP for the current fiscal.
In the first advance estimates released in January, NSO projected GDP growth at a 4-year low pace of 6.4 per cent in the current fiscal. The RBI expects growth to be 6.6 per cent.
Meanwhile, India’s exports declined for the third month in a row in January, falling by 2.38 per cent year-on-year to USD 36.43 billion, while the trade deficit widened to USD 22.99 billion in the month. Imports rose by 10.28 per cent year-on-year to USD 59.42 billion in January.
Post Your Comments