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SBI Research: Global economic recovery to propel India’s FY24 GDP growth to 8%
The Business Guardian
|May 29, 2024
The State Bank of India's Economic Research Department has published a comprehensive report forecasting robust economic growth for India, fueled by a global economic recovery. The report suggests India's GDP could reach 8% in FY24, buoyed by positive economic indicators and favorable monsoon forecasts.
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The report also highlights the potential impact of global economic resilience on India's growth trajectory.
Despite the challenges faced by the global economy, including geopolitical tensions and extreme weather events, global growth remains resilient, supported by easing inflationary pressures and strong employment conditions.
The International Monetary Fund (IMF) in its April 2024 World Economic Outlook (WEO) raised the global growth forecast for 2024 to 3.2 per cent, an improvement from its earlier projections.
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