Morgan Stanley raised India’s GDP forecast to 6.8 percent. Loktej Business News
[ad_1]
New Delhi, March 27 (HS). After S&P Global, Morgan Stanley has also indicated growth in India’s Gross Domestic Product (GDP) in its forecast. Morgan Stanley has increased the GDP growth forecast for financial year 2024-25 from 6.50 percent to 6.80 percent. Along with this, the growth rate for the financial year 2023-24 has been revised to 7.90 percent.
Global brokerage firm Morgan Stanley has revised India’s economic growth forecast for fiscal year 2024-25 to 6.80 percent in its forecast released on Wednesday, which is 30 basis points higher than the previous estimate of 6.50 percent. The financial services company has also revised the growth rate forecast for the current financial year 2023-24 to 7.90 percent. Morgan Stanley expects India’s GDP growth to remain strong with an estimated growth rate of around seven per cent in the fourth quarter of fiscal year 2023-24 ending March 31.
This estimate of the global financial services firm has come in view of an optimistic outlook on India’s economic situation. Morgan Stanley has expressed its confidence in the strength and stability of the country. The company expects this growth momentum to widen with the widening gap between rural-urban consumption and private-public capital expenditure in FY 2022-25. Morgan Stanley is a global financial services firm, headquartered in New York City, USA.
It is noteworthy that RBI has estimated the GDP growth rate to be seven percent for the next financial year 2024-25, whereas the economic growth rate in the current financial year 2023-24 is estimated to be 7.30 percent.
The National Statistical Office has estimated the real GDP growth for the financial year 2023-24 to be 7.30 percent, which is higher than 7.20 percent in the last financial year.
[ad_2]
Source link
