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GDP growth sinks to 2-year low
The New Indian Express
|November 30, 2024
Economy grows just 5.4% in July-Sept quarter, raising doubts about meeting full-year target of 6.5%
INDIA's economic growth fell to a seven-quarter low of 5.4% in the second quarter of 2024-25, dragged by the poor performance of the manufacturing and mining sectors.
The sharp fall in the GDP growth, compared with 6.7% in the first quarter, was also driven by the slow pace in government spending and weak private consumption, according to data released by the National Statistical Office (NSO).
The growth was much below estimates. RBI had predicted the GDP to grow at 7% in Q2. Now, a full-year GDP growth of even 6.5% looks difficult.
This story is from the November 30, 2024 edition of The New Indian Express.
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