{"id":130299,"date":"2023-02-24T13:36:25","date_gmt":"2023-02-24T08:06:25","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=130299"},"modified":"2023-02-24T13:36:26","modified_gmt":"2023-02-24T08:06:26","slug":"ind-ra-projects-indias-fy24-growth-at-5-9","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/ind-ra-projects-indias-fy24-growth-at-5-9\/","title":{"rendered":"Ind-Ra projects India&#8217;s FY24 growth at 5.9%"},"content":{"rendered":"\n<p><strong>Ind-Ra projects India&#8217;s FY24 growth at 5.9% :<\/strong> Credit rating and research agency, India Ratings and Research\u00a0(Ind-Ra) projected\u00a0the growth of the\u00a0Indian economy\u00a0to\u00a05.9% year on year during 2023-24.<br><br>The GDP growth estimate of the agency is\u00a0lower than the 6.4% real GDP growth\u00a0projected by the RBI for FY24. According to the agency, there are fault lines in the economic recovery that is happening in the Private final consumption expenditure, Government Final Consumption Expenditure, and net exports.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.gkseries.com\/blog\/category\/daily-quiz\/daily-quiz-february-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\">February 2023 Current Affairs Quiz<\/a><\/strong><\/p>\n\n\n\n<p>\u201cAlthough there are a few positives for India such as \u2013 sustained government capex, deleveraged corporates, low NPA in the banking sector, Production-linked Incentive scheme and likelihood of global commodity prices remaining subdued, Ind-Ra believes they are still not sufficient to take the FY24 GDP growth beyond 6%,\u201d Sunil Kumar Sinha, Principal Economist, India Ratings said.<\/p>\n\n\n\n<p>Private Final Consumption Expenditure is estimated to grow 6.7% in FY24 from 7.7% in FY23, but it may not lead to a broad-based consumption demand recovery because the current consumption demand is highly skewed in favour of the goods and services consumed largely by the households belonging to the upper income bracket, the outlook said. \u201cThe goods and services of mass consumption have yet not shown a sustained pick-up,\u201d it said.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ind-Ra projects India&#8217;s FY24 growth at 5.9% : Credit rating and research agency, India Ratings and Research\u00a0(Ind-Ra) projected\u00a0the growth of the\u00a0Indian economy\u00a0to\u00a05.9% year on year during 2023-24. The GDP growth estimate of the agency is\u00a0lower than the 6.4% real GDP growth\u00a0projected by the RBI for FY24. According to the agency, there are fault lines in [&hellip;]<\/p>\n","protected":false},"author":894,"featured_media":130300,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4999],"tags":[82,1424],"offerexpiration":[],"class_list":["post-130299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-february-2023","tag-economy-current-affairs","tag-gdp-growth"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/130299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/894"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=130299"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/130299\/revisions"}],"predecessor-version":[{"id":130301,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/130299\/revisions\/130301"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/130300"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=130299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=130299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=130299"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/offerexpiration?post=130299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}