Introduction :
GDP growth surges to 8.2% on the Indian economy according to data from NSO National statistical office.
Context:
India’s real GDP for FY 24 that is 2023 – 24 has recorded a significant jump to 8.2% because the estimate for the previous Financial year was just around 7.3%. Real GDP was estimated just at 7.3 % but the final numbers have come in from NSO, the official numbers through the NSO which places the real GDP growth of India at 8.2%, which makes India one of the fastest growing economies in the world.
You can see over the last few years how the Indian economy has consistently out outperformed the global average apart from this dip during the pandemic year, right even during the pandemic India was still one of the best performing economies. But after the pandemic we have shown a tremendous recovery.
Conclusion:
Of course the base effect also comes into action but still India’s growth numbers are quite phenomenal compared to the rest of the world. Even the nominal GDP has jumped by 9.6% in FY 24.