The Indian economy is expected to grow 7.3 per cent in the current financial year 2023-24, remaining the fastest-growing major economy, the National Statistics Office said on Friday.
However, these are early projections for 2023-24. Improved data coverage, actual tax collections, expenditures incurred on subsidies, and data revisions made by source agencies would have a bearing on subsequent revisions of these estimates.
India’s economy grew 7.2 per cent in 2022-23 and 8.7 per cent in 2021-22.
The first advance estimates of GDP come after the Reserve Bank of India (RBI) raised its growth forecast last month by 50 basis points to 7 per cent from an earlier estimate of 6.5 per cent.
