February 24, New Delhi – India's economy is estimated to have grown by 8.1% in the third quarter of the current financial year. This is according to a report released by the State Bank of India. The report's high-frequency indicators point to resilient economic activity despite global headwinds.
It noted strong trends in rural consumption and a steady recovery in urban demand, supported by fiscal stimulus. This assessment comes at a time when India is set to revise its GDP base year from 2011-12 to 2022-23, which is scheduled to be released on February 27th.