Business

India’s GDP Grows By 5.4% In Q2 Of FY 2024-25, Remains Fastest-Growing Major Economy

India’s GDP grew by 5.4% in the second quarter (July-September) of FY 2024-25, as per data released by the Ministry of Statistics. While the growth has slowed compared to previous quarters, India continues to be the fastest-growing major economy. China recorded a growth of 4.6% in the same period.

The country’s economic expansion is driven by positive growth in agriculture, construction, and services, despite challenges in manufacturing and mining.

Growth in Key Sectors

The agriculture sector showed resilience, growing by 3.5% in Q2 after slower growth in recent quarters. The construction sector also performed well, registering a 7.7% growth, supported by steady domestic consumption of finished steel.

The services sector, particularly trade, hotels, and transport, posted a 6% growth, marking a significant recovery. Private Final Consumption Expenditure (PFCE) also surged, growing by 6% in Q2 and 6.7% in H1, indicating strong consumer demand.

Outlook and Future Growth

Despite a slowdown in some sectors, the Indian economy shows a positive trajectory. The government’s final consumption expenditure rebounded by 4.4%, and private consumption continues to play a pivotal role in GDP growth.

The Finance Ministry remains cautiously optimistic about the growth outlook. Improved agricultural conditions and government spending are expected to support the economy in the coming months. The Reserve Bank of India has kept its GDP growth forecast for FY 2024-25 at 7.2%.

Also Read: Sensex Surges 759 Points, Bharti Airtel And Sun Pharma Top Gainers

Ajaypal Choudhary

Recent Posts

Earthquake Of Magnitude 5.3 Shakes Punjab Region Of Pakistan

A shallow 5.3-magnitude earthquake struck central Pakistan’s Punjab province early on Sunday, with tremors felt…

6 mins ago

Gautam Adani Hails Puri Lifeguards As Unsung Heroes During Rath Yatra Visit

Gautam Adani, Chairman of the Adani Group, visited Puri in Odisha during the annual Rath…

10 hours ago

Acharya Pramod Krishnam Slams Congress Over ‘Internal Emergency’ Allegation

Acharya Pramod Krishnam, stirred political debate by claiming an 'internal emergency' still exists within the…

11 hours ago

MRM Meeting: Pledge for Global Peace, Green India, De-addiction & Democratic Integrity

Taking a crucial step toward positive transformation, social reform, and global peace, the Muslim Rashtriya…

11 hours ago

India To Host 2029 World Police & Fire Games; Amit Shah Hails Global Recognition

India has been chosen to host the prestigious 2029 World Police and Fire Games in…

11 hours ago

Seeing The Lord Among Devotees Is The Pinnacle Of Humility: Gautam Adani At Rath Yatra

Gautam Adani, along with his wife and Karan, participated in the Rath Yatra in Puri,…

14 hours ago