New Delhi, Oct 9 (IANS) Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday said the real GDP for FY25 is estimated to be 7.2 per cent, which is in line with global projections amid strong fundamentals, rising consumption and robust investment sentiment in the country.
Das estimated real GDP for Q2 FY25 at 7 per cent, Q3 at 7.4 per cent and Q4 at 7.4 per cent. Real GDP growth of Q1 of next year has been estimated at 7.3 per cent.
Speaking on the third and last day of the RBI’s Monetary Policy Committee (MPC) meeting, Das said that the share of investment in the GDP has reached its highest level since 2012-13.
“Looking ahead, India’s growth story remains intact as its fundamental drivers – consumption and investment demand – are gaining momentum,” said Das.
On the supply side, gross value added (GVA) expanded by 8 per cent, surpassing the GDP growth, aided by strong industrial and services sector activities.
“High-frequency indicators available so far suggest that domestic economic activity continues to be steady. The main components from the supply side – agriculture, manufacturing and services remain resilient,” said the RBI Governor.
According to Das, agricultural growth has been supported by above-normal monsoon and better kharif sowing. He further stated that manufacturing activity is gaining on the back of improving domestic demand, lower input costs and a supportive government policy environment.
“Government consumption is improving, investment activity remains buoyant, government spending rebounding from a contraction in the first quarter, and private investment continues to gain steam,” said the RBI Governor.
According to the central bank, household consumption is poised to grow faster in the second quarter of the current fiscal (FY25) as headline inflation eases, with a revival of rural demand already taking hold.
–IANS
na/svn
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
