Instant view: India`s economy grows 6.7% y/y in April-June quarter
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India's economy grew by 6.7% in the April-June quarter from a year earlier, compared with 7.8% growth in the previous quarter, government data showed on Friday.
A Reuters poll had predicted a 6.9% expansion in India's gross domestic product for the quarter ending June 30.
COMMENTARY
GARIMA KAPOOR, ECONOMIST, INSTITUTIONAL EQUITIES, ELARA SECURITIES, MUMBAI
"The disruption due to elections and heat wave led to moderation in services growth."
"The risk of government spending undershooting the Budget estimates this year, amid rural urban divide in consumption demand, will weigh on full-year GDP estimate."
UPASNA BHARDWAJ, CHIEF ECONOMIST, KOTAK MAHINDRA BANK, MUMBAI
"While the Q1 FY25 GDP growth has come in softer than expectations, the GVA (Gross Value Added) has remained firm, with non-farm growth holding up well."
"We retain our GDP growth expectations of 6.9% in FY 2025, aided largely by rural demand and government spending, while closely watching the likely fatigue in urban demand, private capex and the pace of global slowdown."
