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Indian economy is recovering from slowdown witnessed in July-September quarter: RBI
The Statesman Siliguri
|December 25, 2024
High frequency indicators for the third quarter of 2024-25 (October-December) indicate that the Indian economy is recovering from the slowdown in momentum witnessed in July-September, driven by strong festival activity and a sustained upswing in rural demand, Reserve Bank of India (RBI) said on Tuesday.
In the monthly RBI bulletin released today, the RBI said that the prospects for agriculture and hence rural consumption are looking up with brisk expansion of rabi sowing. Headline CPI inflation also somewhat moderated in November to 5.5 per cent on the back of easing food prices.
The Indian economy grew by 5.4 per cent in real terms in the July-September quarter of the current financial year 2024-25. The quarterly growth was quite lower than RBI's forecast of 7 per cent. In the April-June quarter too, India's GDP grew at a slower pace than was estimated by its central bank.
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