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Indian Economy confident strides forward : update March 2024 : GDP growth, FX reserves, inflation

In this monthly update at the end of the FY 2024, we take a fresh look at the Indian Economy. In an announcement that surprised all India watchers, the GDP growth rate for Q3FY 24 was 8.4%. This led to an upward revision to the estimates for FY24 as well as FY25.

The inflation for February 24 was also moderate at 5.09 and the RBI is aiming to take it further towards the middle of its comfort band at 4%.

All other indicators are strong, from PMI Index, to GST Collections, to Foreign Exchange reserves, as the Rupee got marginally weaker and closed above Rs. 83.50 last week.

We also look at the spending patterns and new government intiatives.