NSO Reports 6.7% GDP Growth for April-June 2024 Quarter

Tags: Reports

The Indian economy achieved a 6.7% real GDP growth for the April-June 2024 quarter.

An Overview of the News

• The Ministry of Statistics' data highlights this as a significant economic performance.

Sectoral Performance

• The manufacturing sector grew by 7%, contributing positively to job creation.

• The construction and electricity sectors experienced double-digit growth.

• Private Final Consumption Expenditure increased by 7.4%, and Gross Fixed Capital Formation grew by 7.5%.

Economic Outlook

• Aggregate demand is gaining momentum with improved rural consumption and rising incomes.

• This uptick in demand is expected to boost private sector investment and overall growth.

• Despite this positive outlook, global economic concerns persist, including geopolitical tensions, recession fears in major economies, and financial market volatility, although inflation has moderated in many countries.