Image Source : FILE Gross Domestic Product of India.
India’s Real Gross Domestic Product (GDP) has been estimated to grow by 6.7 per cent in Q1 of FY 2024-25 over the growth rate of 8.2 per cent in Q1 of FY 2023-24, according to the latest official data released on Friday. The Real GDP accounts for inflation and provides a measure of the economy’s actual output. The GDP slowed to a five-quarter low in April-June this fiscal against 8.2 per cent in the year-ago period, mainly due to poor showing by the farm sector, according to government data.
As per the government data, the agriculture sector recorded a 2 per cent growth, down from 3.7 per cent in the April-June quarter of 2023-24, as per the National Statistical Office (NSO) data released on Friday. However, the growth in the manufacturing sector accelerated to 7 per cent in the first quarter of the current fiscal compared to 5 per cent in the year-ago period.
