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NEW DELHI: Indian economy is projected to grow 6.2% in 2024, slightly lower than the 6.3% estimate for 2023, amid robust domestic demand and strong growth in the manufacturing and services sectors, according to a UN report. It also forecast that the global growth is set to slow to 2.4% in 2024 from an estimated 2.7% in 2023.
“GDP in South Asia grew by an estimated 5.3% in 2023 and is projected to increase by 5.2% in 2024, driven by a robust expansion in India, which remains the fastest-growing large economy in the world,” according to the United Nations World Economic situation and prospects report for 2024.
Several multilateral agencies, brokerages, economists have raised India’s economic growth projections for the current fiscal, citing robust domestic demand. The IMF has raised India’s GDP growth estimate for the current fiscal year to 6.3% from the previous 6.1%.
Global GDP growth is projected to slow from an estimated 2.7% in 2023 to 2.4% in 2024 against the backdrop of lingering risks and uncertainties.
“GDP in South Asia grew by an estimated 5.3% in 2023 and is projected to increase by 5.2% in 2024, driven by a robust expansion in India, which remains the fastest-growing large economy in the world,” according to the United Nations World Economic situation and prospects report for 2024.
Several multilateral agencies, brokerages, economists have raised India’s economic growth projections for the current fiscal, citing robust domestic demand. The IMF has raised India’s GDP growth estimate for the current fiscal year to 6.3% from the previous 6.1%.
Global GDP growth is projected to slow from an estimated 2.7% in 2023 to 2.4% in 2024 against the backdrop of lingering risks and uncertainties.
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