This is the highest GDP growth in the last four quarters; sharpest surge in services sector; economists say growth is likely to slow in the rest of the year due to deficient rainfall, high inflation, and global concerns

Manufacturing GVA grew for the second quarter in a row, after half a year of contraction, with the pace of growth picking up slightly to 4.7% in the first quarter (Q1) of the year, from 4.5% in the previous quarter. Agriculture, forestry and fishing GVA grew 3.5% between April and June, but it was the services sectors that recorded the sharpest surge and lifted the estimates released by the National Statistical Office (NSO) on Thursday.

      Growth in India’s Gross Domestic Product (GDP) and the Gross Value Added (GVA) in the economy sped to a four-quarter high of 7.8% in the first quarter of this financial year

      economists reckon that a weak monsoon, high inflation and global headwinds could temper the pace of growth through the rest of 2023-24.

      This is the highest GDP growth in the last four quarters; sharpest surge in services sector; economists say growth is likely to slow in the rest of the year due to deficient rainfall, high inflation, and global concerns

About GDP (Gross Domestic Product):