Asked whether the Q2 GDP numbers worried him at the India Economic Conclave organised by the Times Network, the minister said: "Well, I think, governments don't run 'quarter se quarter tak' [from one quarter to another]," and added that the blip was due to the "lag effect" of elections in the first quarter, which is now passé. He said during the election, policy making and implementations of projects slowed and there was a lag effect. But, "the initial numbers for this quarter, the 3rd quarter show a pick-up," he added.
The official data released on November 29 showed GDP growth rate slowing down to a seven-quarter low at 5.4% in Q2 of FY25.
While the Reserve Bank of India (RBI) on December 6 accepted that the real GDP in Q2 was "much lower than anticipated," it cited high-frequency indicators to conclude that the slowdown in domestic economic activities had already bottomed out "aided by strong festive demand and a pick-up in rural activities".
The RBI on December 6 projected the real GDP growth for financial year 2024-25 at 6.6%, with 6.8% in the third quarter and 7.2% in the fourth quarter.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
" I CRIED AFTER MY MATHS BOARD EXAM "
During a visit to his school as chief guest, actor Vedang Raina gets nostalgic about his days as a student
In Zen zone: Moulding the marble to match the paint
Smooth curves in pink intertwine the three figures so seamlessly that the marble they are made out of emotes a unified soul.
Food, drinks, and soulful beats set the mood for Odella's launch
It was a starry weekend in Green Park as founders Nipun Khanna and Samir Aggarwal hosted the grand launch of Odella.
India has every reason to be proud: Shahana on Santosh being shortlisted for Oscars nom
Actor Shahana Goswami's film Santosh, has inched closer to being nominated for the International Feature Film category in the 2025 Academy Awards.
Caught Rahane, bowled Ashwin
Given a choice, R Ashwin would have liked to have Ajinkya Rahane permanently at slips for his bowling, such was their combination.
Unbreakable Santosh back to rallying with an eye on Dakar
Astride a rally spec of Royal Enfield Himalayan 450, CS Santosh was riding through the dirt on the banks of the Egidillo river in Spain when memories of him flying through the dunes at the Dakar Rally flashed across his mind.
India leave the Gabba with honours even
At almost all times during the Brisbane Test, Australia were ahead of the game.
Now, becoming the best player in the world is what I care about most
What must it be like to fulfil your life's greatest dream at 18? It's been less than a week since Gukesh D became world champion, beating China's Ding Liren, and the Indian teen is still wrapping his head around this delightful predicament.
Thinking bowler who could at will outwit batsmen
The off-spinners' club lost its brightest star when R Ashwin announced his retirement in Brisbane on Wednesday.
Nissan, Honda may gain in India from potential merger
MERGER COULD ALIGN THE FIRMS' ELECTRIFICATION AND SOFTWARE DEVELOPMENT COLLABORATION
