GDP FORECAST OF INDIA I Inflation Data Last 6 Month I GST Collection in Last 6 Month I RRB PO Mains

GDP FORECAST OF INDIA I Inflation Data Last 6 Month I GST Collection in Last 6 Month I RRB PO Mains 2024

India's GDP Forecast:
India’s GDP is projected to grow at 7.2% in 2024, according to Moody's revised forecast. This upward revision is due to strong performances in both the industrial and services sectors, along with robust household consumption as inflation moderates. The IMF and World Bank have also slightly increased their estimates, with the World Bank projecting a 6.6% growth for 2024【6†source】【7†source】.

Inflation Data (April - September 2024):
India’s inflation has seen significant fluctuations in recent months, driven largely by volatile food prices. In April 2024, food inflation stood at 8.7%, but by July, it had decreased to 5.42%, the lowest since June 2023. The overall Consumer Price Index (CPI) inflation was at 3.54% in July 2024, down from 5.1% in June【6†source】.

GST Collection (April - September 2024):
GST collections have remained strong, crossing ₹1.6 lakh crore for several months in a row. In August 2024, GST collection reached ₹1.65 lakh crore, continuing the trend of robust revenue generation, which indicates steady economic activity. This is a notable increase compared to the ₹1.57 lakh crore collected in April 2024【7†source】.

These indicators reflect a combination of sustained economic growth, improving inflation conditions, and strong fiscal performance.