India's GDP Growth Slows to 6.7% in Q1: Govt Data
Aug 30, 2024 17:44
India's GDP growth slowed to 6.7% in the April-June quarter, mainly due to a decline in the farm sector. Manufacturing sector saw an acceleration to 7%.
Photograph: Anushree Fadnavis/Reuters
New Delhi, Aug 30 (PTI) India's gross domestic product slowed to a quarter low of 6.7 per cent in April-June this fiscal against 8.2 per cent in the year-ago period, mainly due to poor showing by the farm sector, according to government data.
India remains the fastest-growing major economy, as China's GDP growth in the April-June quarter was 4.7 per cent.
The agriculture sector recorded a 2 per cent growth, down from 3.7 per cent in the April-June quarter of 2023-24, as per the National Statistical Office (NSO) data released on Friday.
However, the growth in the manufacturing sector accelerated to 7 per cent in the first quarter of the current fiscal compared to 5 per cent in the year-ago period.
The previous GDP low was 6.2 per cent in January-March 2023.
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