Explorer

Delhi Election Exit Poll 2025

(Source:  Poll of Polls)

India Logs July-September Quarter GDP Growth At 7.6%

The July-September GDP increased 7.6 percent, against 7.8 per cent growth seen in the previous quarter ended June, and 6.1 per cent increase seen in the last quarter of the previous fiscal year.

India’s gross domestic product (GDP) grew by 7.6 per cent in the quarter ended September 2023 at constant prices, data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Thursday revealed. The July-September GDP increased 7.6 percent, against 7.8 per cent growth seen in the previous quarter ended June, and 6.1 per cent increase seen in the last quarter of the previous fiscal year. Comparatively, the economy recorded a growth rate of 6.2 per cent in the second quarter of the previous fiscal year at constant prices.

Commending the performance of the Indian economy, Prime Minister Narendra Modi said via a post on social media platform X, "The GDP growth numbers for Q2 display the resilience and strength of the Indian economy in the midst of such testing times globally."

This growth rate surpassed the central bank's predictions for the Indian economy. Shaktikanta Das, governor of the Reserve Bank of India (RBI), earlier this month, predicted the Indian economy to continue its growth momentum and clock a GDP growth rate of 6.5 per cent in the second quarter of the current fiscal year. 

Addressing the BFSI Insight Summit, the Governor earlier noted, “… looking at the momentum of economic activity, looking at a few early data points that have come in a few early indicators, I can say that the second quarter GDP number as and when it is released at the end of November, in all probability will surprise everyone on the upside.”

Also Read : India's Economy Expected To Sustain Robust Growth Amid Global Slump

Notably, a Reuters poll on Thursday projected that the Indian economy will report a GDP growth rate of 6.8 per cent for the July to September quarter, higher than the RBI forecast of 6.5 per cent, but lower than the 7.8 per cent growth witnessed in the economy in the preceding quarter.

The news agency noted that India could outpace a slowing global economy dampened by surged interest rates and higher energy prices. Further, solid urban consumption and government spending would be key factors in helping the country maintain a strong growth in the quarter, the report stated.

Barclays economist, Rahul Bajoria, further stated, "Domestic demand remains the key economic driver of activity, as external demand continues to remain weak." Earlier in the week, on Wednesday, Economic Affairs Secretary Ajay Seth told reporters the economy showed good momentum and he expected "good numbers" for the September quarter.

Further, data released by the Controller General of Accounts (CGA) revealed that the fiscal deficit of the government reached 45 per cent of the full-year budget estimate by the end of October. The fiscal deficit during the April to October period in 2024 stood at Rs 8.03 lakh crore. In the previous fiscal year during the reviewing period, the fiscal deficit stood at 45.6 per cent of the budget estimates for 2022-23. The overall estimated fiscal deficit for FY24 is set to be Rs 17.86 lakh crore, which comes at 5.9 per cent of the GDP. 

Additionally, government data revealed that output for eight key infra sectors increased by 12.1 per cent in October against 0.7 per cent in the same period a year earlier. 

View More
Advertisement
Advertisement
Thu Feb 06, 2:12 am
connaught place
11.3°
Precipitation: 0 mm    Humidity: 78%   Wind: NW 8.5 km/h
See Today's Weather
Powered By:
Accu Weather
Advertisement

Top Headlines

US President Trump Bans Transgender Athletes From Women's Sports
US President Trump Bans Transgender Athletes From Women's Sports
Protesters Attack Mujibur Rahman’s Dhaka Residence, Set It Ablaze During Sheikh Hasina's Speech
Protesters Attack Mujibur Rahman’s Dhaka Residence, Set It Ablaze During Sheikh Hasina's Speech
UN Chief Rejects Trump's 'Long-Term Ownership' Plan For Gaza, Warns Against 'Ethnic Cleansing'
UN Chief Rejects Trump's 'Long-Term Ownership' Plan For Gaza, Warns Against 'Ethnic Cleansing'
First Live-In Registered Under UCC In Uttarakhand, Four Applications Being Verified
First Live-In Registered Under UCC In Uttarakhand, Four Applications Being Verified
Advertisement
ABP Premium

Videos

Delhi Election 2025 Exit Poll: BJP Gains Significant Lead, Senior Journalist Offers Insightful Analysis | ABP NewsDelhi Election 2025: Exit Polls Indicate Close Fight Between AAP and BJP; Congress Struggles | ABP NewsDelhi Election 2025: AAP's Saurabh Bhardwaj Makes Bold Claim After Casting Vote in Greater Kailash, Promises Major Changes Ahead | ABP News'RSS Actively Promotes Its Agenda In Delhi' – Dibang Shares Insights On Delhi Exit Poll Results, Analyzes Political Dynamics | ABP News

Photo Gallery

Embed widget