Economists peg India's FY24 growth at 6% after advance estimates

Say expectations of easing inflation levels, good rabi output will be supportive of domestic demand

Following the FY23 gross domestic product (GDP) advance estimates, economists have singled out the Indian economy’s relative resilience.

They, however, warn about a slowdown in the coming quarters due to a likely recession in developed economies, and see GDP growth in FY24 at around 6 per cent.

“India’s economic growth continues to remain resilient despite an uncertain global backdrop marked by slowing growth, elevated inflation, tight financial conditions, and lingering geopolitical tensions. However, downside risks to growth from global headwinds have risen materially in recent months,” said Shubhada Rao, founder, QuantEco Research.

The Indian economy may grow at 7 per