India's economic growth surpasses estimates, rises at 8.2% in FY24

GDP surprises: India's Gross Domestic Product (GDP) for the January to April quarter has come at 7.8 per cent as compared to 6.2 per cent in the year ago period, while the country has surprised with GDP at 8.2 per cent  for FY24.

As per experts, the numbers were quite a surprise, saying the Q4 was expected to be relatively weaker. The Gross Value Addition (GVA) at 7.2 per cent has equally sprung a surprise, said experts. The private final consumption expenditure has risen marginally by 1.2 per cent.

However, on the flip side India's forex reserves dropped by  $2.027 billion to $646.673 billion for the week ended May 24.

The eight key infrastructure sectors' growth saw a rise to 6.2 per cent in April on the back of a robust healthy expansion in the production of natural gas, refinery products and electricity, according to official data released on Friday. The production of eight sectors grew by 6 per cent in March. The growth of these core sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 4.6 per cent in April 2023.