India Q3 GDP Data Live: NSO Announced Q3 GDP

NSO has just unveiled the latest quarterly GDP figures, revealing an impressive GDP rate of 6.2%. While this marks a slowdown from last year’s robust 8.6% growth on a year-on-year basis, it is encouraging to see a rise from 5.4% when comparing quarter-on-quarter (QoQ) performance.

In light of these results, the government has also updated its growth forecasts.

The FY24 estimate has been lifted to a promising 9.2%, up from the 8.2% projected in May 2024. Likewise, FY23 growth has been revised to 7.6%, a notable increase from the previous estimate of 7%.

Looking ahead, the economy is poised for a dynamic conclusion to the current fiscal year, with expectations to hit 6.4% growth in the final quarter. The momentum appears set to carry into the next fiscal year, with the MC Poll's 18 economists projecting a healthy 6.6% growth rate for fiscal year 26.

Experts suggest that a combination of fiscal and monetary easing, including tax rationalization and potential policy rate cuts, will be crucial in maintaining this growth trajectory, especially in light of global challenges. The horizon looks promising, and we can’t wait to see how it unfolds!