Team Blitz India
NEW DELHI: Deloitte India on April 26 said it estimates India’s GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows.
In its India’s economic outlook report, Deloitte said the rapid growth of the middle-income class has led to rising purchasing power and even created demand for premium luxury products and services.
With the expectation that the number of middle-to-high-income segments will be one in two households by 2030/31, up from one in four currently, we believe this trend will likely become further amplified, driving overall private consumer expenditure growth, it said.
Deloitte has revised India’s economic growth prediction for last fiscal to a range of 7.6 to 7.8 per cent. In January, the firm had projected growth for 2023-24 fiscal in the range of 6.9-7.2 per cent.
