India's Q3 GDP Data Live Updates: Indian Economy Grows 8.4% in December Quarter; Prime Minister Modi appreciated the country's strength and potential

India's Q3 GDP data live: India's export spending estimates released by NSO stood at 22.2% in the October-December quarter. In the previous quarter, expenditure on the export sector was 23.9%.

India's Q3 GDP data live: Quarterly estimates of GVA at basic prices for trade, hotels, transport, communication and services sector stand at 6.7%. In the previous quarter, the sector grew by 4.5%. Whereas, it witnessed a growth of 9.2% in Q3 FY23

India's Q3 GDP data live: „Real GDP growth in 3QFY24 was higher than expectations at 8.4%. However, a big surprise came from net taxes. Core manufacturing growth as reflected in GVA growth came in at 6.5% above expectations. Broadly, the GDP data showed that investment growth outpaced consumption.” indicates that it is outpacing growth by a large margin. Household savings rate declined in FY2023 due to lower financial savings rate compared to FY2022. As expected, physical savings rate increased marginally. For policymakers, the concern about growth is that current growth will remain low,” said senior economist at Kotak Stocks. Expert Suodeep Rakshit said.

India's Q3 GDP data live: India's strong GDP growth in the December quarter has strengthened India's position as the fastest growing major economy globally. India, Southeast Asia, Middle East and Africa, CBRE's Chairman and CEO – Anshuman Magazine said this growth trajectory is a testament to India's economic resilience and its potential for sustained growth.

“The manufacturing sector, with an impressive double-digit growth rate, along with the construction sector, which saw a healthy growth rate of 9.5%, is key. These sectors not only boost the economy but also contribute significantly to the dynamics of the real estate market. „The growth in construction indicates strong demand for residential and commercial space, underscoring a vibrant real estate market,” Anshuman magazine said.

India's Q3 GDP data live: “The robust 8.4% GDP growth in Q3 2023-24 shows the strength of the Indian economy and its potential. Our efforts will continue to accelerate economic growth to help 140 crore Indians live better lives and build a Vixit Bharat,” PM Modi posted on his X.

India's Q3 GDP data live: Upward revision of quarterly estimate of India's GDP numbers is a reflection of strong economic momentum, said Vivek Rathi, National Director Research, Night Frank India, „The upward revision of FY24 economic growth indicates 7.6%. Very strong economic momentum, especially given the current global economic landscape. While still volatile. The impetus for economic growth has come primarily from investments, ie 12.2% growth in gross capital formation (GCF). This suggests a change in the economic landscape, where investments are gaining momentum.”

Vivek Rathi highlighted the importance of current GDP numbers in revitalizing the Capital Expenditure (CapEx) cycle in the economy, which supports long-term growth.

“Except agriculture, all sectors of the economy are doing well. Notably, industry (10.4%), manufacturing (11.6%), and construction (9.5%) sectors were the main drivers of economic growth in the third quarter of FY24,” Rathi added.

India's Q3 GDP data live: Mining and quarrying sector estimated to grow 8.1% in FY 24 The sector witnessed a growth of 1.9% in the previous financial year.

India's Q3 GDP data live: GDP at constant prices was flat in the third quarter of FY 23-24 ₹43.72 lakh crore, vs ₹40.35 lakh crore in Q3 of FY 23, showing a growth of 8.4 percent. GDP is estimated at current prices for Q3 of 2023-24 ₹75.49 lakh crore ₹68.58 lakh crore in the third quarter of 2022-23, showing a growth of 10.1 per cent.

India's Q3 GDP data live: Construction sector clocked double-digit growth rate of 10.7% in the third quarter of FY 24. Strong growth in the construction sector was complemented by a boost in manufacturing sector growth of 8.5% in Q3 FY24.

India's Q3 GDP data live: In the third quarter of the previous fiscal (Q3 FY 23), the Indian economy registered a growth of 4.4%.

India's Q3 GDP data live: Real GDP at constant prices (2011-12) estimated to reach a level in FY 23-24 ₹172.90 lakh crore against FRE (First Revised Estimates) of GDP for 2022-23. ₹160.71 lakh crore. The GDP growth rate is estimated at 7.6 percent in 2023-24 as compared to 7 percent growth rate in 2022-23.

India's Q3 GDP data live: India's economic growth in the October-December quarter beat expectations of economists who predicted a contraction in the economy. According to a Reuters poll, the economy is expected to grow 6.6% in the final three months of last year. Meanwhile, the Mint poll estimates the GDP growth rate to be 6.64 per cent in the third quarter of FY24.

India's Q3 GDP data live: The National Statistics Office on Thursday revised its GDP growth forecast for 2022-23 to 7 per cent against the previous estimate of 7.2 per cent.

India's Q3 GDP data live: India's economy is expected to grow at 7.6 per cent in 2023-24, according to the Office for National Statistics' second advance estimates of the National Accounts. In its first revised estimates released in January 2024, it had projected growth of 7.3 per cent in the current fiscal.

India's Q3 GDP data live: India's economy expanded 8.4% in the December quarter compared to 7.6% growth in the previous quarter.

India's Q3 GDP data live: While geopolitical factors such as the Red Sea crisis will impact goods exports, the impact will be offset by stronger services exports, Barclays said. Merchandise exports grew by just 1.1% in the October-December quarter.

India's Q3 GDP data live: Despite subdued economic growth in the country due to muted industrial and agricultural growth, Sujan Hajra, chief economist and managing director of Anand Rathi Shares and Stockbrokers, believes the services sector is likely to see strong growth. In the third quarter.

„Service activities and private consumption are projected to show relatively strong performance. Overall, for the full year, we forecast India's growth to be around 7%, positioning it as the strongest performer among the world's major economies,” Hajra said. Payal Bhattacharya of Putina.

India's Q3 GDP data live: According to Mint's survey, India's GDP growth rate will be 6.6% in the October-December quarter, lower than the 7.6% seen by the statistics ministry in the previous quarter.

India's Q3 GDP data live: India's GDP growth to be six per cent in Q3 FY24 due to lower production of kharif crops and slowdown in industrial sector, Aditi NairChief Economist, Head- Research & Outreach, ICRA, a leading credit rating agency, said in an interview to LiveMind.

India's Q3 GDP data showed upward revisions in the growth projections for the Indian economy for 2023-24 over the immediate previous quarter, i.e. July-September quarter.

According to a State Bank of India (SBI) survey report, India's Q3 GDP data is live and India's GDP is likely to grow at a rate of 6.8 percent. The GDP growth rate is likely to reach seven per cent if there is any downward revision in the GDP growth figures for Q3 FY 24, the report said.

India's Q3 GDP Data Live Due to El-Nino effect in the Pacific Ocean, India's agricultural output is likely to suffer this year. According to the January 2024 issue of NSE's 'Market Pulse' report, India's agricultural output is expected to grow by 1.8 percent year-on-year (YoY) in FY 24, down from four percent growth in the previous year.

El-Nino is likely to affect rural demand with private consumption growth at 4.4 percent, down from 7.5 percent growth in the previous year.

India's Q2 GDP Data Live: The Ministry of Statistics will release the GDP data on Thursday, February 29, 2024 at 5:30 PM. According to economists, GDP is expected to decline from 7.6 in the October-December quarter of FY 24. The percentage seen in the previous quarter.