Signs of improvement in India's GDP! Fitch raised its GDP growth forecast for 2023-24 to 6.3 percent

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Currently, a rating agency called Fitch has raised India's GDP growth forecast for the current fiscal year 2023-24 to 6.3 percent from 6 percent. This means that Fitch Ratings has increased its previous estimate by 0.3 points. Earlier, Fitch estimated India's growth rate at six percent.

India's growth rate in the last financial year was 7.2 percent

Rating agency Fitch has raised India's GDP growth forecast for the current financial year, keeping in mind the good growth rate in the January-March quarter. Earlier, India's growth rate was 7.2 percent in the previous financial year 2022-23. While in 2021-22, the economy of the country grew at the rate of 9.1 percent.

Taking these things into consideration, the growth rate estimate was increased

Fitch said, GDP growth was very good in the January-March quarter. After two quarters of continuous decline, the manufacturing sector has seen a recovery, the construction sector has seen an improvement and agricultural production has also increased, giving a boost to the domestic economy. Keeping these things in mind, the rating agency has increased the growth rate estimate.

India's GDP is estimated to be 6.5 percent in 2025-26

Fitch has said in its report that India's GDP is estimated to be 6.5 percent in 2024-25 and 2025-26. Due to growth in manufacturing, construction sector and agricultural output, Fitch has raised India's growth forecast, which bodes well for the Indian economy.

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