India’s gross domestic product (GDP) growth slowed to 6.7 per cent in the April-June quarter of financial year 2024-25, according to the National Statistical Office (NSO).
This is the lowest GDP growth for the previous five quarters. It is also lower than the Reserve Bank of India’s (RBI) forecast of 7.2 per cent.
Despite the slowing GDP growth, India remained the fastest-growing major economy in the world as Chinese quarterly GDP growth remained at 4.7 per cent.
In the same period last year, the GDP growth was recorded at 8.2 per cent.
In the April-June quarter, while the agriculture sector’s growth reduced to 2 per cent from the 3.7 per cent a year ago, the manufacturing sector grew at 7 per cent against the 5 per cent a year ago.
In the FY 25, the Indian economy is still expected to grow above 7 per cent, according to Moneycontrol.
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