As many as 10 economists have revised upwards their growth projections for the current fiscal year by 20-80 basis points (bps).
Nomura raised its projection by a steep 80 bps (see chart).
"Owing to the robust Q3 (in this case July-September), we are raising our FY24 GDP growth projection to 6.7% year-on-year from 5.9% previously," Nomura said in a report.
"Q3 (July-September) GDP growth surprised positively... led by a stronger pickup in fixed investment and government consumption (on the demand side) and stronger manufacturing and construction output growth (on the supply side)," it said.
The projections by economists are higher than the 6.5% growth estimate which the government has retained.
This story is from the December 02, 2023 edition of Financial Express Mumbai.
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This story is from the December 02, 2023 edition of Financial Express Mumbai.
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