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ICRA Forecasts Sequential Moderation in India’s GDP Growth to 7% in Q2 FY2024

Santhosh Kumar 23/11/2023

ICRA Forecasts Sequential Moderation in India’s GDP Growth to 7% in Q2 FY2024 mind map
Gross Value Added (GVA) Growth Estimates
GVA growth anticipated to ease to 6.8%
Services sector and agriculture contributing to deceleration
Factors Impacting Future Growth
Uneven rainfall
Narrowing commodity price differentials
Potential slowdown in government capex
Weak external demand
Cumulative impact of monetary tightening
Full-Year GDP Growth Estimate and Investment Activity
Full-year GDP growth estimate maintained at 6.0%
Robust investment activity in Q2 FY2024
Industrial GVA Growth and Sectoral Performance
Industrial GVA growth estimated at 6.6%
Driven by manufacturing, electricity, and mining
Services and Agriculture GVA Growth Expectations
Services GVA growth projected at 8.2%
Agriculture growth estimated at 1.0%
Forward-Looking Concerns and Conclusion
Concerns about uneven rainfall, commodity prices
Low confidence in Net Zero targets among G20 members
Urgent need for clean energy access

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Tags: 23.11.2023, Newsbits

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