What was the Indian GDP growth rate for the first quarter (April-June) of the financial year 2024-25?
The Indian GDP grew by 6.7% in the first quarter (April-June) of the financial year 2024-25.
This growth rate is down from 8.2% in the first quarter of 2023-24.
The growth was below the Reserve Bank of India’s forecast of 7.1%.
It is the lowest quarterly growth in the last fifteen months.
The lowest recent GDP growth was 6.2% during January-March 2023.
The Union Ministry of Statistics and Programme Implementation released the estimate on 30 August 2024.
Economists attribute the decline to reduced government spending due to election-related restrictions.
Despite the lower growth rate, India remains the fastest-growing economy in the world.
China, the second-largest economy, grew by 4.7% in the April-June quarter.