Crisil, a leading rating agency, projects a 6% GDP growth for India in the fiscal year 2024, slightly lower than the National Statistical Organisation's (NSO) estimate of 7% for FY 2023. Crisil remains optimistic about the Indian economy's medium-term prospects, foreseeing an average growth rate of 6.8% over the next five fiscal years. However, the agency points out potential challenges due to global economic complexities and central banks' actions to counter high inflation. It identifies interest rate hikes and inflation moderation as pivotal factors influencing India's economic trajectory. Crisil's Managing Director, Amish Mehta, emphasizes the significance of green investments in driving growth and addressing climate risks. Chief Economist Dharmakirti Joshi highlights the need to manage external vulnerabilities, considering potential volatility in foreign portfolio flows and the changing landscape of external borrowings.

In its latest mid-year macroeconomic evaluation, the National Institute of Public Finance and Policy (NIPFP) has indicated a potential slowdown in India's economic expansion, estimating a growth rate of 6% for the fiscal year 2023-24 (FY24). This projection reflects a decline from the 7.2% growth observed in FY23, primarily attributed to prevailing challenges in the global economic landscape. The comprehensive analysis by NIPFP takes into account a spectrum of economic markers, unveiling invaluable insights into the probable trajectory of India's economic journey.