India's Real GDP Growth Beats All Estimates: Motilal Oswal

Motilal Oswal Report

Real gross domestic product growth came in much higher than expected at 7.8% in Q4 FY24 versus 8.6% (revised higher from 8.4%) in Q3 FY24 and 6.2% in Q4 FY23. The number is much higher than the market consensus and our expectation of 7%. Higher-than expected GDP growth was led by higher government consumption and a higher contribution of net exports.

Private consumption witnessed some improvement in Q4 FY24, as per our forecasts. In other words, robust growth in real net indirect taxes and higher discrepancies explained higher-than-expected real GDP growth. 

For FY24, real GDP growth stood at 8.2% versus 7% in FY23, which is the highest since FY17, barring FY22. The annual growth number was also significantly higher than the market consensus and our expectations (of 7.9% each).

The major growth driver was real investment, which grew 9.4% in FY24 versus 5.5% in FY23. On the other hand, private consumption remained weak, up 4% in FY24 versus 6.8% in FY23.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.