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    HomeBusinessIndia forecasts 7.3% economic growth, boosting Modi's election chances

    India forecasts 7.3% economic growth, boosting Modi’s election chances

    AYODHYA, INDIA – DECEMBER 30: Prime Minister Narendra Modi during road show at Rampath on December 30, 2023 in Ayodhya, India. Ahead of consecration ceremony of the Ram Lalla Temple in Ayodhya next month, Prime Minister Narendra Modi has reached the temple city today, December 30, and inaugurated several projects with a total worth of 15,000 crore for Ayodhya. The projects include developments such as the airport, railway station, highway, and the doubling of a railway line. (Photo by Deepak Gupta/Hindustan Times via Getty Images)

    Hindustan Times | Hindustan Times | Getty Images

    India forecast annual growth of 7.3% in the fiscal year ending in March, the highest rate of any of the major global economies, providing a boost for Prime Minister Narendra Modi ahead of the national elections scheduled to be held before May.

    “These are early projections for 2023/24,” the National Statistical Office (NSO) said in a statement on Friday, adding improved data coverage, actual tax receipts and spending on state subsidies could affect subsequent revisions.

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