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Below the Quote on GDP data by Manoranjan Sharma, Chief Economist, Infomerics Ratings.

Real GDP of 6.7% in Q1 of FY 2024-25 over the growth rate of 8.2% in Q1 of FY 2023-24 is entirely in line with our expectations because we had placed our forecast of 6.8 % in the public domain. India's consistently good GDP growth of about 7 % makes it the fastest economy globally. Against this backdrop, Q1 GDP growth in the primary sector occurred at 2.7 %, the secondary sector at 8.4 %, and the tertiary sector at 7.2 %. While close to 7 % GDP growth is certainly good in the light of geo-economic fragmentation, tepid 3.3 % global growth and heightened uncertainties, this marks a deceleration in GDP growth since Q 4 of 2022-23. Muted services growth is largely attributable to the disruptive effects of Lok Sabha elections manifested in high-frequency indicators and the intense heat wave witnessed this year. Overall, for FY 25, we see GDP growth at 7 %.

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