Fears that India may be unable to sustain a growth rate of more than 7 per cent came true on August 30, when the first quarter growth numbers for FY25 were announced. Real GDP grew only 6.7 per cent in Q1FY25, compared to 8.2 per cent in the same quarter a year ago. The growth was the slowest in five quarters (the economy grew over 7 per cent in the preceding four quarters), and was below the expectations of several agencies, including the Reserve Bank of India, which had earlier pegged its estimations of Q1 GDP growth at 7.1 per cent.
Agriculture was the biggest dampener, growing only 2 per cent in the quarter under review compared to 3.7 per cent in the previous quarter. Experts attribute it to the vagaries of the weather, especially the impact of a heat wave in several parts of the country. But even the services segment, including travel and hospitality, which had grown 10.7 per cent a year ago, slowed down to 7.2 per cent this time. This could simply be in comparison to the high numbers posted during the post-Covid recovery of the economy.
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Diese Geschichte stammt aus der 16th September, 2024-Ausgabe von India Today.
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On a Roll
After a string of successes in 2024, music composer duo Sachin-Jigar are looking forward to several major releases in 2025
TALK OF THE TOWN
The symposium at Design Milestone by India Today HOME turned into a melting pot of minds, conversation and ideas
CONGRESS READIES TO PIVOT
The party’s moves to jettison allies and rebuild its own poll machinery expose the competing dynamics in the INDIA bloc, blunting the Opposition challenge and the Congress’s place within it
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MIDDLE CLASS - THE BIG SQUEEZE
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THE BEST CARS AND BIKES IN INDIA
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THE AMAZING AURA OF DZIRE
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MAHINDRA TURNS HEADS WITH THE BE 6 AND XEV 9e
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