INDIA'S GDP LIKELY TO GROW 7.3 % IN FY24 BACKED BY ALL-ROUND PERFORMANCE OF SECTORS

The only exception is the agriculture and allied sector, for which the estimated growth is 1.8 percent, compared to a 4 percent expansion in the previous fiscal.

- 

"India stays firm on the course of the fastest growing economy globally, with the first advance estimates (FAE) of the National Statistical Office (NSO) released on Friday projecting a robust 7.3 percent growth in FY 202324 with all the economic sectors faring well by witnessing more than 6 percent growth, on the back of higher government spending and a strong performance in the construction sector.

This is over and above provisional growth rate of 7.2 percent during the last financial year shows the (FAE) and has been driven significantly by the construction sector which has been estimated to have double digits' growth of 10.7 percent. The only exception is the agriculture and allied sector, for which the estimated growth is 1.8 percent, compared to a 4 percent expansion in the previous fiscal.