India's growth in the June quarter 6.7 per cent came down to a five-quarter low due to a lower increase in net indirect taxes during the three-month period.
Growth in gross domestic product (GDP) has been lower than what the Reserve Bank of India (RBI) predicted at 7.1 per cent - and what a poll of 52 economists by Reuters had said -6.9 per cent.
The data, released by the National Statistical Office, however, showed growth in gross value added (GVA) picked up sequentially in the June quarter at 6.8 per cent compared to 6.3 per cent in the March quarter of FY24 due to lower "net taxes on products", which is arrived at by subtracting subsidies from indirect taxes. GDP is arrived at by adding net indirect taxes to GVA.
Denne historien er fra August 31, 2024-utgaven av Business Standard.
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Denne historien er fra August 31, 2024-utgaven av Business Standard.
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TRUTH BE TOLD
