Nomura raises India’s economic growth forecast for FY24 to 5.9%

Nomura on Friday raised its financial development forecast for India’s fiscal 2024 to five.9% from 5.5%, after information confirmed economic system grew at its quickest tempo in a yr within the April-June quarter.

India’s Gross home product (GDP) expanded a more-than-expected 7.8% on an annual foundation within the June quarter, Thursday’s information confirmed, accelerating from 6.1% development recorded within the March quarter.

Nomura, nonetheless, lowered the nation’s fiscal 2025 GDP development fee to five.6% from 6.5% as its sees weak monsoons, increased meals inflation, probably slowdown in authorities capital expenditure and sluggish international development pressuring home demand.

(Solely the headline and film of this report could have been reworked by the Enterprise Customary workers; the remainder of the content material is auto-generated from a syndicated feed.)

First Printed: Sep 01 2023 | 10:47 AM IST

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