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India’s GDP set to grow 8% or more in previous quarter: Nirmala Sitharaman

NEW DELHI: Finance minister

Nirmala Sitharaman

on Saturday said that the country’s GDP is set to grow by 8% or more in the quarter ending March 31.
Speaking during an event in the financial hub of Mumbai, Sitharaman said, “Hopefully the fourth quarter, will also have (growth) of 8% or above 8% resulting in 2023/24 having an average growth in GDP of 8% or over 8%.”
Sitharaman highlighted the expected year-on-year expansion rate of 8% for the

2023/24 financial year

, attributing it to improved inflation management and macroeconomic stability.

The GDP data for the Jan-March quarter is scheduled for release on May 31. India’s economy recorded an 8.4% growth in the October-December quarter, surpassing the previous quarter’s 7.6% growth. The current fiscal year is projected to witness a 7.6%

economic growth

by March 31, according to government estimates.