India's GDP Grows At 8.4% In Q3; Economy To Expand At 7.6% In FY24: Govt Data

This growth forecast surpasses the revised estimate of 7 percent growth for the previous fiscal year, FY23.

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New Delhi: India's economic growth accelerated to 8.4 percent in the third quarter of 2023-24, mainly due to good performance by the manufacturing, mining & quarrying and construction sectors. The Indian economy recorded a growth of 8.4 percent in the third quarter of this fiscal (October-December 2023), according to data released by the National Statistical Office (NSO) on Thursday.

The NSO, in its second advance estimate of national accounts, pegged the country's growth at 7.6 percent for 2023-24. It had projected a growth of 7.3 percent for the current fiscal in its first advance estimates released earlier in January 2024.

The NSO also revised the GDP growth for 2022-23 to 7 percent against the earlier estimate of 7.2 percent.