The State Bank of India (SBI) yesterday released a report anticipating India’s GDP growth 7.4% in the fourth quarter of the financial year 2023-24, while the overall growth could touch 8%. The report released by the SBI’s Economic Research department highlights the potential impact of global economic resilience on India’s growth trajectory.
The report identifies a consistent growth trend across both urban and rural sectors in India. Urban economic momentum is indicated by strong performance in passenger vehicle sales, airport passenger traffic, GST collections, credit card transactions, petroleum consumption, and toll collection. On the other hand, Rural economic indicators also show a positive trend, with diesel consumption and two-wheeler sales increasing.
