India’s GDP expected to surge 5.9% YoY in FY24: Ind-Ra

India’s gross domestic product (GDP) is projected to grow 5.9 per cent YoY in fiscal 2024 (FY24), as per India Ratings and Research (Ind-Ra). Although National Statistical Organisation’s (NSO) first advanced estimate (AE) of FY23 GDP is 7.0 per cent, it does not expect the growth momentum witnessed in the first half of FY23 (1HFY23) to sustain in 2HFY23.