New Delhi, 20 November (HS). American brokerage company Goldman Sachs has estimated India’s real gross domestic product (GDP) growth rate to be 6.3 percent with a slight decline in the current financial year 2023-24.
In the report released on Monday, Goldman Sachs has estimated India’s real GDP growth rate to be 6.3 percent with a slight decline in the current financial year 2023-24. Earlier, the American firm had estimated the GDP growth rate to be 6.3 percent. However, the brokerage firm has predicted the GDP growth rate to increase to 6.5 percent in the upcoming financial year 2024-25 from the estimated 6.2 percent in the current financial year.
The US brokerage firm said the next calendar year will be a two-part one, with government spending being the main driver of growth ahead of the upcoming general elections, while post-election it will drive a revival in investment growth, especially from the private sector. Goldman Sachs has predicted that the inflation rate based on the main consumer price index CPI will be 5.1 percent in 2024.
It is noteworthy that the Reserve Bank of India (RBI) has estimated the growth rate of the Indian economy to be 6.5 percent in the current financial year 2023-24. Apart from this, the International Monetary Fund (IMF) had earlier estimated the economic growth rate for the financial year 2023-24 to be 6.1 percent.