India's GDP growth hits 8.4% in Q3, Signaling robust rebound

Driven by a remarkable double-digit growth rate of 11.6% in the manufacturing sector and a solid performance in the construction sector with a growth rate of 9.5%,India's Gross Domestic Product (GDP) registered a growth of 8.4 per cent on an annual basis in the third quarter(October-December),of the fiscal year 2023-24 as against a 7.6 per cent in the previous quarter, according to the data released by National Statistical Office,on Thursday.Despite facing headwinds and experiencing a slower pace of growth compared to previous years, India's resilience stands out amid a backdrop of economic challenges gripping other major economies, including China and the eurozone.
India's Fiscal Deficit Hits Rs 11.03 Lakh Crore in First 10 Months of FY24
India's fiscal deficit for the first 10 months of the fiscal year through January stood at Rs 11.03 lakh crore, or 63.6 per cent of annual estimates, government data showed on Thursday. The growth rate of eight core sectors in India increased by a 15-month low of 3.6 per cent in January on an annual basis.In January 2024, the production of coal, steel, cement, natural gas, electricity, and crude oil witnessed positive growth, according to recent data. However, there was a decline in the production of fertilizers and petroleum refinery products during the same period.

( Ira Singh, Asstt Editor, Gandhinagar)