The Indian economy surpassed the expected as it expanded at a 7.8% in the three months through March, and has pushed the growth for fiscal year 2024 to 8.2%, as per official data released on Friday.
The strong showing led to India retaining its crown as the world’s fastest growing major economy.
The March quarter (Q4) growth figure is higher than the corresponding quarter of 2023, which recorded 6.1%. A poll by Mint had forecasted a throw up a median of 7.0%, a decrease from 8.4% in the preceding quarter.
All four quarters of FY24 has registered strong growth rate, out of which three has achieved above 8%. As per the estimate of 19 economist, the growth in FY24 was estimated to be at 7.9% from 7.0%.
