GDP growth estimated at 6.3% for 2023-24

FICCI survey paints a positive picture Mumbai, Oct 17: The Indian economy is projected to grow by 6.3 per cent in FY24 with a minimum and maximum growth estimate of 6.0 per cent and 6.6 per cent respectively, according to the latest Economic Outlook Survey released by the Federation of Indian Chambers of Commerce and Industry (FICCI) on Monday. As per the chamber, the median growth forecast for agriculture and allied activities has been put at 2.7 per cent for 2023-24. “This marks a moderation vis-a-vis growth of about 4.0 per cent reported in the year 2022-23. The El Nino effect has had an impact on the spatial distribution of rainfall this monsoon season. Industry and services sector, on the other hand, are anticipated to grow by 5.6 per cent and 7.3 per cent respectively in the current fiscal year,” it said. The present round of FICCI’s Economic Outlook Survey was conducted in the month of September 2023 and drew responses from leading economists representing industry, banking and financial services sector.