India’s GDP will grow by 6.1 percent in 2024: Moody Analytics
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Looking at GDP relative to its pre-pandemic trajectory shows that India and Southeast Asia have seen the largest output losses globally and are just beginning to recover, Moody’s Analytics said.
New Delhi. India’s economy will grow by 6.1 percent in 2024, down from 7.7 percent growth in 2023. “Economies in South and Southeast Asia are expected to see the strongest output gains this year, but their delayed recovery from the global pandemic is likely to slow the growth,” Moody’s Analytics said in its report titled ‘APAC Outlook: Listening through the Noise’. Performance has been affected. We expect India’s GDP (gross domestic product) to grow by 6.1 percent in 2024 after 7.7 percent last year.
The report said that overall the region is performing better than other parts of the world. It said that the APAC (Asia Pacific) economy will grow at the rate of 3.8 percent this year. The world economy will grow at the rate of 2.5 percent. Looking at GDP relative to its pre-pandemic trajectory shows that India and Southeast Asia have seen the largest output losses globally and are just beginning to recover, Moody’s Analytics said.
Regarding inflation, it said the outlook for China and India is more uncertain. Earlier this month, the Reserve Bank of India had said that food price uncertainties will weigh on inflation going forward. The estimate of 4.5 percent retail inflation remains intact for the current financial year 2024-25. The RBI said continued geopolitical tensions are also creating disruption for commodity prices and supply chains.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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