India's GDP Growth Forecast Revised Upwards

The Reserve Bank of India (RBI) has revised its GDP growth forecast for the financial year 2023-24 to 6.3%, citing strong domestic demand and improved consumer sentiments. This marks an increase from the previous estimate of 6.1%. The central bank's assessment reflects a recovery in several sectors, including manufacturing and services, bolstered by government spending and festive season consumption. Analysts believe that sustained growth in investments and exports will further support this upward revision.