In its second advance estimate of GDP for 2023-24, the statistics ministry pegged the current year s growth rate at 7.6 percent, 30 basis points higher than its first advance estimate of 7.3 percent
According to Nageswaran, a decline in the share of Private Final Consumption Expenditure in the GDP of 2023-24 is not a sign of demand slowdown but reflects growth in the economy being more evenly distributed than before.