March quarter GDP seen falling to four quarter low of 6.7 per cent

The more than expected 8.4 percent GDP growth in the December quarter had everyone talking up the growth forecast for the full year to 8%.
Image used for representational purposes only.
Image used for representational purposes only.

MUMBAI: The economy has likely lost some of its steam in the final quarter of fiscal 2024 sequentially to 6.7% in the March quarter from 8.4% in the previous three months ending December 2023, missing the 8% print majority expected for the full fiscal which is likely to get printed at 7.8%, says a report.

The more than expected 8.4 percent GDP growth in the December quarter had everyone talking up the growth forecast for the full year to 8%. The official macro numbers will be released on May 31. Even RBI and the finance ministry has said the final print will top 8%.

As per Aditi Nayar, chief economist at Icra Ratings, GDP is likely to have moderated to a four-quarter low 6.7% in Q4 from 8.4%in Q3. Growth in gross value added has eased to 5.7% in Q4 from 6.5% in Q3, driven by industrial sector likely to have decelerated to 7.9%from 10.4% and services likely to have grown slower at 6.2% from 7% in the previous quarter.

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