GDP Growth: India took such a leap?
GDP Growth: india took such a leap…?Before the voting of the seventh phase of the lok sabha elections, good news has come for the indian economy. In fact, the GDP growth in the fourth quarter of the financial year 2023-24 i.e. January-March 2024 has been 7.8 percent. At the same time, the GDP growth was 6.1 percent in the same quarter last year. Apart from this, the GDP growth in the financial year 2023-24 has been 8.2 percent. The GDP data has been much better than the estimates. At the same time, China's GDP in the financial year 2023-24 has been around 4.5 percent. China's economic growth rate has been 5.3 percent in the January-March quarter.Talking about the first three quarters of the last financial year, the indian economy grew at the rate of 8.2 percent in the june quarter, 8.1 percent in the september quarter and 8.4 percent in the december quarter. The growth rate of the fourth quarter was 7.8 percent.RBI's estimate is more than 6.9 percentAccording to the data released by the National Statistical office (NSO) on Friday, India's GDP growth rate in the quarter ending march 31, 2024 has exceeded the Reserve bank of India's (RBI) estimate of 6.9 percent.China's economy is in a bad shapeSince the Corona period, the Chinese economy is struggling with falling GDP. However, recently the IMF has increased the estimate of China's GDP growth rate for 2024 from the earlier 4.6 percent to 5 percent. The IMF has warned that by 2029 it will fall to 3.3 percent.