Nomura on Friday raised its economic growth forecast for India's fiscal 2024 to 5.9% from 5.5%, after data showed economy grew at its quickest pace in a year in the April-June quarter.

       India's Gross domestic product (GDP) expanded a more-than-expected 7.8% on an annual basis in the June quarter, Thursday's data showed, accelerating from 6.1% growth recorded in the March quarter.

       Nomura, however, lowered the country's fiscal 2025 GDP growth rate to 5.6% from 6.5% as its sees weak monsoons, higher food inflation, likely slowdown in government capital expenditure and sluggish global growth pressuring domestic demand.

       (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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