The gross domestic product (GDP) data, released by the National Statistics Office (NSO) last week, has surprised analysts. While most anticipated the slowdown in demand to reflect in the GDP data, no one expected the economy to expand just 5.4 per cent in the second quarter—a seven-quarter low. Economists at the Reserve Bank of India (RBI) are likely to be particularly disappointed, having projected a 7 per cent growth rate for the quarter in the October monetary policy review. With the economy growing only 6 per cent in the first half of the financial year, the RBI needs to revise its full-year growth projection of 7.2 per cent. During the second quarter, growth was constrained by the manufacturing sector, which expanded 2.2 per cent, year-on-year, compared to 7 per cent in the first quarter. Activity also slowed in the construction sector, while the mining sector registered a contraction during the quarter. The agricultural sector, meanwhile, grew 3.5 per cent compared to 1.7 per cent in the same period last year.
この記事は Business Standard の December 02, 2024 版に掲載されています。
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この記事は Business Standard の December 02, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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CONSOLATION PRIZES
UN climate summit in Baku leaves the developing world with crumbs
SFBs: The canter on a chequered terrain
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Now boarding
Governance premium is set to go up by many notches and banks will be put through the wringer, reports RAGHU MOHAN
