32.3 C
Delhi
Saturday, June 7, 2025

India’s GDP grows 7.8 percent in first quarter of FY24

Date:

Share post:

Donate-GC-Razorpay

On Thursday, August 31, the government’s statistical office released the latest GDP estimates for India, which show that the GDP, in the first quarter of April-June of FY24, grew 7.8 percent, while the growth was 6.1 percent in the January-March quarter. The GDP growth is the highest in four quarters. Gross value added, which strips out indirect taxes and subsidies, is estimated to have grown 7.8 percent compared to 6.5 percent in the previous quarter.

It was estimated earlier that the Indian GDP will grow 7.8 percent in Q1, according to 44 economists polled by Bloomberg, and the GVA growth was expected to be 7.7 percent.

RBI Governor, Shaktikanta Das-led rate-setting panel had projected India’s real GDP growth for 2023-24 at 6.5 per cent with Q1 growth rate at 8 per cent. For fiscal 2022-23, India’s economy’s growth rate came in at 7.2 per cent, higher than the central bank’s estimate of 7 per cent. However, the pace of growth was slower as compared to 9.1 per cent recorded in FY22.

Sonakshi Datta
Sonakshi Datta
Journalist who wants to cover the truth which others look the other way from.

Related articles

The AI That Wasn’t: The Rise and Fall of Builder.AI

There’s something almost poetic about a dream collapsing under the weight of its own hype. In an age...

‘He is in the Files’: Elon Musk Drops Bombshell Against President Trump

The dark shadow of Jeffrey Epstein continues to loom over the corridors of global power. While the media...

Mithi river scam: ED conducts searches at multiple locations in Mumbai

Mumbai: The Enforcement Directorate (ED) is conducting searches at multiple locations across Mumbai on Friday in connection with...

Mexico rejects U.S. top court ruling on lawsuit against gun companies

Mexico City: The Mexican government said it strongly disagrees with a U.S. Supreme Court ruling to dismiss its...