GDP numbers News

The real gross domestic product (GDP) rose by 8.2 per cent in 2023-24 against 7 per cent in the preceding fiscal.

According to the global financial services major, although reforms over the past year have caused disruptions that will likely mean lower growth rates in the near term, they should allow India to unleash more of its undoubted potential over the medium term.

The GDP stood at a three year low at 5.7 percent for April-June quarter of 2017-18, which the report said has raised concerns about the annual GDP numbers for the fiscal.

Commenting on the GDP numbers, Morgan Stanley said, "We are inclined not to read this as a sign of general slowdown in aggregate demand".

Total market valuation of all BSE-listed companies today surged to all-time high of over Rs 118 lakh crore after a rally in the broader market.

Boosted by a rally in stocks, the total market valuation of listed companies at the BSE regained the Rs 100 lakh crore mark.

Enthused over encouraging GDP numbers, Finance Minister Arun Jaitley on Wednesday said the government will push ahead with its reform agenda to retain the fastest growing large economy tag and help India move towards becoming "a more developed economy".

CSO has estimated economic growth at 7.3 per cent for 2014-15, slightly lower than its earlier advance estimate of 7.4 per cent.

The January-March quarter earnings season has been bad for a host of other companies as well, including public sector giants like NMDC and Coal India which announced their results last week.

Finance Secretary Rajiv Mehrishi on Friday said that GDP numbers are encouraging. “Data shows signs of pick up, both manufacturing and services have improved, Mehershi said.

Questioning the credibility of new GDP figures, a Parliamentary panel on Friday said it is not convinced about the figures which are showing a sudden jump in the growth rate of economy.