Tuesday was a great day for the Indian economy. There were three big positive news in this. According to RBI bulletin, the Indian economy may register a strong growth of 7.5% in the first quarter.
The United Nations has raised India’s growth forecast for 2024 by 0.7% to 6.9%. At the same time, the total market valuation of companies listed on BSE crossed the level of $5 trillion (Rs five lakh crore) for the first time.
Tuesday brought good news for the Indian economy.
Three big news came simultaneously. In the May Bulletin of the Reserve Bank of India (RBI), the country’s economic growth rate has been estimated at 7.5 percent in the first quarter. At the same time, the United Nations has increased the growth rate estimate of the Indian economy by 0.7 percent to 6.9 percent for 2024. He has also termed ‘Indian Economy’ as the fastest growing large economy in the world.
The third good news has come from the stock market. For the first time, the total market valuation of BSE listed companies crossed the $5 trillion (Rs five lakh crore) level. This is an important milestone for the Indian economy.
Estimates of 7.5% growth in the first quarter
With increase in aggregate demand and expenditure on non-food items in villages, the country’s economic growth rate may be 7.5 percent in the first quarter of the current financial year. This has been said in an article on ‘State of the Economy’ published in the RBI Bulletin. The Indian economy has shown excellent strength despite global disruptions affecting supply chains.
It said, ‘According to the Economic Activity Index (EAI), activity accelerated in April. Initial estimates suggest that GDP growth is expected to be around 7.5 percent in the first quarter of 2024-25. The EAI is constructed using a ‘dynamic factor model’ based on the general trend of 27 important (high frequency) indicators of economic activity. Was taken out.
