Indian real GDP grew 7.8% in April-June quarter; lower than RBI's estimates
.webp)
Indian gross domestic product (GDP) grew by 7.8 per cent in the quarter that ended on June 30, data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Thursday showed.
In the April-June quarter last year, the GDP growth rate was 13.1 per cent. In the previous quarter, that ended on March 31, Indian GDP had recorded a growth rate of 6.1 per cent.
In its recent bi-monthly monetary policy announcement, the Reserve Bank of India (RBI) had pegged the GDP growth rate for the June quarter at 8 per cent.
"Real GDP growth for 2023-24 is projected at 6.5 per cent with Q1 at 8 per cent; Q2 at 6.5 per cent; Q3 at 6.0 per cent; and Q4 at 5.7 per cent," RBI governor Shaktikanta Das had said earlier this month.
Moreover, the country's largest lender, the State Bank of India (SBI) pegged the growth at 8.3 per cent, while domestic rating agency Icra estimated it to be even higher at 8.5 per cent.
Barclays had estimated the Q1 GDP growth at 7.8 per cent.
Speaking at B20 Summit India 2023 , Finance Minister Nirmala Sitharaman said that the Q1 numbers were expected to be healthy.
"As things stand, nobody has a clue. But everybody feels that yes, the first quarter did go on well, so the numbers should be good," she said.
Other Latest News
.webp)
After Haryana, the BJP would also sweep the upcoming assembly elections in Maharashtra and Jharkhand, BJP president J P Nadda asserted on Friday.
Nadda, who paid obeisance at the Shri Naina Devi temple here, said the people were happy with the performance of the BJP government at the Centre led by Prime Minister Narendra Modi.
.webp)
Noel Tata, half-brother of the late Ratan Tata, has been unanimously elected as the chairman of Tata Trusts following the passing of the legendary industrialist Ratan Tata, CNBC-TV18 reported on Friday. Noel Tata is already a key trustee of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust. He will now lead the trusts that hold a controlling stake in Tata Sons, the primary holding company of the Tata Group.
The move has long been anticipated, given Noel Tata’s close involvement with Tata Trusts and his extensive experience within the conglomerate.
.webp)
After the Haryana poll debacle, Congress MP and LoP Rahul Gandhi attended the review meeting called by party president Mallikarjun Kharge at his residence in Delhi. Among those present were the party's Haryana observers Ashok Gehlot, Ajay Maken, Deepak Babaria and KC Venugopal.
Sources said that the Congress MP remained largely quite, but when his turn came, he observed two things; one being that Electronic Voting Machines (EVM) and the Election Commission of India (EC) "have much to answer" and another was that "the local leaders were more interested in their own progress than that of the party", leaving a loud silence in the room.
.webp)
Former US President Donald Trump, who is campaigning for another term in the White House, promised to introduce a system of "reciprocal tariffs" if re-elected. In an economic policy speech in Detroit on Thursday, the Republican candidate singled out India, claiming it imposes some of the highest tariffs on foreign goods among major global economies.
This is not the first time Trump has criticised India for its tariffs. Just last month, he called the nation a "big abuser" of US trade relations.
.webp)
Tamil Nadu Chief Minister M K Stalin has announced a bonus and ex-gratia for 2.75 lakh employees of state public sector undertakings and statutory boards for the 2023-24 fiscal.
Accordingly, all eligible workers of profit making PSUs under group C and D will be paid a minimum bonus of Rs 8,400 and a maximum of Rs 16,800, amounting to 8.33 per cent bonus and an ex-gratia of 11.67 per cent, an official release here said.
.webp)
.webp)
.webp)
.webp)
.webp)
