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Positive economy
Bill Gates confidently said that just as we talk about the good things going on in the world, the solid growth of the Indian economy is definitely positive. There is no denying the fact.
India's GDP has gained momentum for three consecutive quarters. The GDP growth rate in the first quarter of the current financial year was 7.8 per cent, in the second quarter it was 7.6 per cent, and in the third quarter, it was 8.4 per cent.
This growth rate is the highest among any other country. The data on the Indian economy, which is growing at a rapid pace every quarter, has further increased the confidence of the World Bank and the IMF in India.
International Monetary Fund has increased India's GDP growth estimate for FY 24 to 6.7 per cent.
The figures for the third quarter of the financial year 2023-24 are much more than the projections made by SBI Research to World Bank-IMF.
It is being discussed not only in the country but also abroad. While SBI Research had expected GDP to be between 6.7-6.9 per cent in the third quarter, the Reserve Bank of India (RBI) had estimated India's Q3 GDP growth at 7%.
Manufacturing Growth has seen an increase of 11.6 per cent whereas the growth rate in the agriculture sector has been 3.8 per cent.
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