Parag Kar’s Post

India’s April-June GDP grows by 7.8%, highest in four quarters Full Article Link >>> https://lnkd.in/gzTGZca5 Aug 31, 2023 06:46 PM IST The GDP expansion came of the back of a sequential pickup in the pace of growth of economic activity in financial services, which grew 12.2%. India’s resilient economy remained on track in the first quarter (April-June) of the current financial year, led by services and public investment, official data &hellip;<p class="read-more"> <a class="" href=""> Read More &raquo;</a></p> Latest For Me . . . . #trendingnews #newstrending #trendingtopicnews #lifestyle #business #news #healthylifestyle #smallbusiness #supportsmallbusiness #lifestyleblogger #luxurylifestyle #businessowner #businesswoman #smallbusinessowner #businessnews

India’s #GDP grew at a massive 8.4% during the October-December quarter of the current financial year 2023-24 and the country continued to remain the fastest-growing major economy. The Indian economy grew 7.8% and 7.6% cent during the preceding two quarters, according to data released by the Ministry of Statistics and Programme Implementation. Real GDP or GDP at Constant (2011-12) Prices in the year 2023-24 are estimated to attain a level of Rs 172.90 lakh crore, against the FRE (first revised estimates)of GDP for the year 2022-23 of Rs 160.71 lakh crore. The #growth rate of GDP during 2023-24 has been estimated at 7.6% as compared to the growth rate of 7% in 2022-23. However, interestingly India’s real GDP growth for the current #financial year ending in March 2024 is also pegged at 7% by the Reserve Bank of India (RBI). It is 30 basis points lower than the #National #Statistics Office’s first estimates of 7.3%.

💹India's GDP Growth Surpasses Global Expectations. ▶India’s GDP numbers are nothing short of mind-blowing! Here is simplified presentation of GDP data release yesterday. India's GDP growth for FY 2023-24 showcases robust economic health amidst a global slowdown. Here’s a simplified breakdown: ⭕Real GDP Growth: FY 2023-24: 8.2% FY 2022-23: 7% ⭕Nominal GDP Growth: FY 2023-24: 9.6% FY 2022-23: 14.2% Real GVA Growth: FY 2023-24: 7.2% FY 2022-23: 6.7% ⭕Manufacturing Sector: 2023-24: 9.9% growth 2022-23: -2.2% contraction ⭕Mining and Quarrying Sector: 2023-24: 7.1% growth 2022-23: 1.9% growth ⭕Quarterly Data (Q4 FY 2023-24): Real GDP: ₹47.24 lakh crore (7.8% growth) Real GVA: ₹42.23 lakh crore (6.3% growth) ⭕Sectoral Performance: Construction: 8.7% growth Agriculture: 0.6% growth Electricity, Gas, Water Supply: 7.7% growth Services (Trade, Hotel, Transport, Communication): 5.1% growth Financial, Real Estate, Professional Services: 7.6% growth Public Administration, Defense, Other Services: 7.8% growth ⭕Where as Global Context: US GDP Growth Projection (CY 2024): 2.7% Eurozone Growth Projection: 0.8% China Growth Projection: 5% India's economic resilience and growth trajectory position it as a global leader, demonstrating strong fundamentals and sustained momentum. What are your thoughts on India's economic future? Share your insights below! 👇 #IndiaGDP #EconomicGrowth #IndianEconomy #MarketInsights #FinancialNews

India's Q1 GDP Surges to 7.8% - A Promising Start for FY24! 📈 India's economic engine roared to life in the first quarter of fiscal 2023-2024, recording an impressive GDP growth rate of 7.8%. This surge marks a significant improvement compared to the previous quarter, underlining the nation's resilience and steady progress. 💪 Solid Performance Driven by Services and Investments💼 The star performer in this growth story is undoubtedly the services sector, showcasing remarkable adaptability and resilience. Additionally, a notable uptick in capital expenditure has played a pivotal role in driving this impressive trajectory. 🚀 Meeting Expectations and More? 🤔 These numbers align closely with experts' projections, who had estimated a growth rate of 7.7%. However, there's an exciting anticipation that India's Q1 GDP might even surpass the Reserve Bank of India's (RBI) forecast of 8%. This positive outlook could have far-reaching implications for policymakers and investors. 🌐 Sectoral Highlights 🏢 - Contact-Intensive Sectors: Trade, hotels, transport, and communication experienced a robust growth rate of 9.2% in Q1, showing slight improvement from the previous quarter. - Real Estate and Finance: These sectors surged by 12.2% year-on-year, contributing significantly to the overall growth story. - Construction, Mining, and Manufacturing: These sectors displayed growth rates of 7.9%, 5.8%, and 4.7%, respectively. - Agriculture and Electricity: These essential sectors reported growth rates of 3.5% and 2.9%, according to government data. - Private Consumption: Accounting for 57.3% of the GDP share, private consumption grew by 6% in the first quarter of FY24. 🛍️ A Positive Start for FY24 🌟 As India kicks off the fiscal year on such a strong note, there's optimism in the air. The nation's growth trajectory demonstrates both resilience and potential, positioning it as a prominent player on the global economic stage. #IndianEconomy #GDPGrowth #EconomicOutlook #Resilience #InvestmentOpportunity (Note: This content is inspired by publicly available information.) Image Source: Bing AI image generator powered by DALL-E

During the third quarter of the fiscal year 2023-24, the India's GDP showed remarkable growth, surpassing expectations and defying projections. #newsupdates #newsupdate #newsfeed #newsflash #newsheadlines #newshighlights #businessnews #businessupdates #businessupdate #indianews #indiagrowth #indiagrowthstory #gdpgrowth #indianeconomy

📣 #HighlightsbyAssetPlus India’s GDP may expand by 7% in 2nd quarter of FY24 - by Hindustan Times Here are some key highlights: 1. India’s gross domestic product (GDP) may expand by nearly 7% in the second quarter of FY24 on sound economic fundamentals, exceeding the Reserve Bank of India’s (RBI) October 6 estimate of 6.5%. 2. The reasons for the current optimism regarding India’s growth prospect for 2QFY24 lie in the buoyant high frequency indicators for recent months. 3. For the year as a whole, there is a strong likelihood that GDP growth may turn out to be about 6.5%, marginally higher than the International Monetary Fund (IMF) and the World Bank’s projection of 6.3%,. "IMF, in its October 2023 issue of the World Economic Outlook, has highlighted India’s position as the global growth leader among major economies with a medium-term growth prospect of 6.3% in each year from 2023 (FY24) to 2028 (FY29)." Source - https://lnkd.in/gMGEwtXM #indianeconomy #investmentnews

India’s Robust GDP growth 📈 Q3 reveals a robust GDP growth of 8.4%, surpassing expectations. Noteworthy is the manufacturing sector's resilience, expanding by 11.6%, a positive shift from the previous quarter's 14.4% and a remarkable recovery from last fiscal's contraction of 0.4%. Kudos to the nation's economic dynamism! 💪 Read more at: (https://lnkd.in/dN7UrfxG) #IndiaEconomy #GDPGrowth #ManufacturingResilience

India’s gross domestic product (GDP) growth in the January-March quarter of FY24 likely slowed to a four-quarter low of 6.8% from 8.4% in October-December, on account of slowdown in manufacturing and services sectors growth, according to the median of a poll of 19 economists. In Q4FY23, GDP had grown 6.2%. At 6.8%, however, the country’s GDP growth would have grown way higher than the 5.9% projected by the National Statistical Office (NSO) in its second advance estimates (SAE). For the full year FY24, the NSO has pegged the GDP growth at 7.6%; but with the projected fourth quarter growth, India’s economy likely grew at 7.8% in the year. #economy #gdp #indianeconomy #poll #news