India GDP Level Update
India GDP Level Update :- India’s economic growth slowed to a two-year low of 5.4 per cent in the July-September quarter of the current financial year due to poor performance by the manufacturing and mining sectors, but the country remains the fastest growing major economy, as per Friday. came to light from the data. ,
Gross domestic product (GDP) grew by 8.1 percent in the July-September quarter of the financial year 2023-24.
The previous low of 4.3 per cent GDP growth was recorded in the third quarter (October-December 2022) of the financial year 2022-23. ALSO READ:- https://livendtv.com/low-pollution-cities-update-news-2024-update/
However, India remained the fastest growing major economy as China’s GDP growth stood at 4.6 per cent in the July-September quarter this year.
India GDP Level Update According to National Statistical Office (NSO) data, farm sector GVA (gross value added) growth accelerated to 3.5 per cent in the latest July-September quarter from 1.7 per cent a year earlier.
GVA in the manufacturing sector declined to 2.2 percent in the second quarter of the current financial year, compared to an expansion of 14.3 percent in the year-ago period.
According to the data, output in ‘mining and quarrying’ (GVA) declined to 0.01 per cent in the second quarter, compared to a growth of 11.1 per cent a year ago.
Financial, real estate and professional services GVA expanded at 6.7 per cent, up from 6.2 per cent in the year-ago quarter.
Electricity, gas, water supply and other utility services grew 3.3 percent, slower than 10.5 percent a year earlier.
India GDP Level Update The construction sector recorded growth of 7.7 percent in the second quarter, down from 13.6 percent year-on-year. Gross domestic product (GDP) growth during the April-June quarter of 2024-25 remained unchanged at 6.7 per cent. ALSO READ:- https://livendtv.com/low-pollution-cities-update-news-2024-update/
“Real GDP or GDP at constant prices is estimated at Rs 44.10 lakh crore in Q2 2024-25, up from Rs 41.86 lakh crore in Q2 2023-24, an increase of 5.4 per cent,” NSO said in a statement. Shows the rate.” ,
It said nominal GDP or GDP at current prices is estimated at Rs 76.60 lakh crore in the second quarter of 2024-25 from Rs 70.90 lakh crore in the second quarter of 2023-24, showing a growth rate of 8.0 per cent. .
On a half-yearly basis, real GDP or GDP at constant prices in April-September of 2024-25 (H1 FY25) is estimated at Rs 87.74 lakh crore, while in H1 2023-24 it is estimated at Rs 82.77 lakh crore, the statement said. Was Rs. Showing a growth rate of 6 percent.
It said nominal GDP or GDP at current prices in the first half of 2024-25 is estimated at Rs 153.91 lakh crore in the first half of 2023-24 from Rs 141.40 lakh crore in the first half of 2023-24, showing a growth rate of 8.9 per cent. .
Meanwhile, government data showed that the Centre’s fiscal deficit at the end of the first seven months of the current financial year reached 46.5 per cent of the full-year target. ALSO READ:- https://livendtv.com/low-pollution-cities-update-news-2024-update/
India GDP Level Update In absolute terms, the fiscal deficit – the difference between the government’s expenditure and revenue – stood at Rs 7,50,824 crore during the April-October period, according to data released by the Controller General of Accounts (CGA). The deficit in the same period of 2023-24 was 45 percent of the Budget Estimate (BE).
