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Just a trailer of things to come: PM Modi on GDP growth

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June 1, 2024
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New Delhi: Prime Minister Narendra Modi said that the Q4 GDP growth data for 2023-24 shows robust momentum in the Indian economy which is poised to further accelerate.

In a post on X (formerly Twitter) PM Modi also thanked the hardworking people of the country saying, “8.2% growth for the year 2023-24 exemplifies that India continues to be the fastest growing major economy globally. As I’ve said, this is just a trailer of things to come..”

India’s gross domestic product (GDP) grew at a faster-than-expected year-on-year rate in the January-March quarter, helped by government spending and resilient consumer demand. Economists expect the momentum to remain strong this year.

The full-year 2023-24 GDP growth has been revised upwards to 8.2 percent from the second advance estimate of 7.6 percent, data released by the Ministry of Statistics and Programme Implementation on May 31 showed.

Today’s GDP data showcases robust economic growth with a growth rate of 8.2% for FY 2023-24 and 7.8% for Q4 of FY 2023-24. This remarkable GDP growth rate is the highest among the major economies of the world.

Further, India’s G20 Sherpa Amitabh Kant noted, “The latest estimates for FY 24 reveal a remarkable Real GDP growth of 8.2%, surpassing the 7.0% growth in the previous year. This exceptional performance is a testament to India’s robust economic momentum and resilience.”

The 16th Finance Commission chairman Arvind Panagariya on Friday said GDP growth at 8.2 per cent for 2023-24 is “great news for India”.

Former Chief Economic Adviser KV Subramanian noted, “India’s GDP growth at 8.2% for FY23-24. Feel gratified as in Sep-2021, when few believed it, I’d said in many interactions that I expect India to have 7%+ GDP growth.”


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