India Q2 GDP Growth 2024 Live Updates: India’s GDP growth slows to 5.4% in second quarter – The Times of India-OxBig News Network

India Q2 GDP Growth 2024 Live Updates: India’s economy slowed down more than expected, with the GDP growth coming in at a much less than expected 5.4% in Q2 of FY 2024-25. The second quarter of fiscal year 2024-25 witnessed real GDP expansion of 5.4%, compared to 8.1% growth in the corresponding quarter of FY 2023-24.

Despite Manufacturing sector showing modest growth of 2.2% and Mining & Quarrying sector registering a marginal decline of -0.1% in Q2 FY 2024-25, the real GVA maintained positive momentum with 6.2% growth during the first half (April-September) of the fiscal year.

According to various projections by analysts, the GDP growth was expected to be at around 6.5% year-on-year for the September quarter, falling short of both the central bank’s 7% projection and the previous quarter’s 6.7%.

The RBI has retained its GDP growth forecast at 7.2% for the current fiscal year, down from 8.2% in the previous year, whilst numerous private economists have reduced their estimates.