Brief by Shorts91 Newsdesk / 04:33pm on 31 May 2024,Friday India
India's Q4 GDP for FY24 exceeded expectations, expanding by 7.8%, surpassing the 6.2% growth from a year ago. The full fiscal year 2023-24 saw GDP rise to 8.2% compared to 7% in FY23. Finance Minister Nirmala Sitharaman hailed the growth, highlighting a robust 9.9% expansion in the manufacturing sector. However, the agriculture sector slowed to 0.6% growth, and the services sector to 5.1%. Investment activities, reflected in gross fixed capital formation, grew by 6.46%, while private and government consumption expenditures also saw increases. India's economic resilience continues despite global challenges, indicating sustained growth momentum.
