Numbers for FY24 came in above expectations while the fiscal deficit reduced
(File) Sheets of steel being rolled at the POSCO India Pune Processing Center Pvt. Ltd. in MIDC Talegaon, outskirts of Pune, India.
Image: Abhijit Bhatlekar/Mint via Getty Images
India’s GDP numbers beat expectations with 8.2 percent growth in FY24 as the economy saw a rise in investment spending even as consumption spending stayed tepid. Numbers released for Q4FY24 saw GDP coming in at 7.8 percent.
Government estimates had earlier placed FY24 growth at 7.6 percent. Strong growth also resulted in a reduction in the FYT24 fiscal deficit number to 5.6 percent.