FY24 GDP growth to be closer to 8%: CEA

Mumbai: India’s real GDP growth in FY24 will be “closer” to 8 per cent on higher activity in industry and services verticals, Chief Economic Advisor V Anantha Nageswaran said on Tuesday.

Addressing a conference organised by ARIA (Association of Registered Investment Advisors) virtually, Nageswaran said the growth will be higher than the Ministry of Statistics’ estimate of 7.6 per cent, and added that there is much reason to be optimistic in the near term about the prospects in India. “...unless the Q4 GDP numbers fall very significantly from the momentum that we have seen in the first three quarters, the GDP will be closer to 8 per cent rather than 7.6 per cent as the Ministry of Statistics is currently estimating,” Nageswaran said.