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Below The Views on GDP April-June quarter numbers by Mr. Vivek Goel, Joint Managing Director of Tailwind Financial Services

India Outpaces China in Economic Growth, Maintains Swiftest Expansion Amidst Sectoral Dynamics and Fiscal Realities

"India has maintained its position as the fastest expanding major economy, outpacing China's 6.3% GDP growth in the April-June quarter. India's GDP surged by a robust 7.8% year-on-year in the same period, attributed to escalated capital spending, heightened consumer demand, and augmented services sector activity. In contrast, July's core sector growth slowed to 8.0% from June's 8.3%, with cumulative expansion from April to July reaching 6.4%, notably below the 11.5% of the same span in 2022.

In sectoral growth, agriculture saw a robust rise at 3.5% in Q1, while manufacturing decelerated to 4.7% from 6.1% YoY, and construction sustained a growth of 7.9%, albeit lower than previous quarters.

Simultaneously, India's fiscal deficit for the initial four months of the fiscal year, until July, reached 33.9% of annual estimates, amounting to 6.06 lakh crore rupees. Despite discussions about countering inflation through fiscal measures, the recent reduction in LPG cylinder prices and the clamor for fuel price cuts could impact the budget gap. However, a significant surplus transfer of Rs 87,416 crore from the Reserve Bank of India cushions this impact and bolsters non-tax revenues.

In our view for India domestic investment scenario looks strong which will help India keep up the growth momentum going forward"  Vivek Goel, Joint MD, Tailwind Financial Services”

Mr. Vivek Goel, Co-founder and Joint Managing Director

Mr. Vivek Goel, Co-founder and Joint Managing Director of Tailwind Financial Services, brings a wealth of expertise to the table with an impressive background in finance, holding an MBA Finance from IIM-Lucknow, and being a CA and FRM. His previous role involved successfully managing Ultra HNI portfolios exceeding $1 billion. At Tailwind Financial Services, Mr. Goel plays a pivotal role in nurturing client relationships and collaboratively managing their portfolios. 

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