Icra pegs Q3 GDP growth at 6%

Agriculture and services sectors boosting Indian economy

Update: 2024-02-22 00:45 GMT

Lower volume growth for the industrial sector, flagging momentum in certain indicators of investment activity, a slowdown in govt expenditure and an uneven monsoon are expected to dampen the GDP growth - Aditi Nayar, Chief Economist, Icra

Chennai: Credit rating agency ICRA on Wednesday said India’s Gross Domestic Product (GDP) would grow at six per cent in Q3 FY2024 from 7.6 per cent in Q2 FY2024. Further, the Gross Value Added (GVA) growth is estimated to ease to six per cent in Q3 FY2024 from 7.4 per cent in Q2 FY2024, driven by the industrial and agriculture sectors, amid an improvement in the services sector. According to ICRA, the anticipated deterioration in the industrial sector growth in Q3 FY2024 is partly attributable to an adverse base effect and a deceleration in volume expansion even as the continued deflation in commodity prices kept profitability of some sectors favourable.

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