Date: 28/05/2024

GDP growth momentum intact in Q1FY25: FinMin

The early indications of GDP suggest a continuation of the economic momentum during the first quarter of FY25 after the Indian economy closed FY24 strongly with its growth surpassing market expectations, despite strong external headwinds, according to the Finance Ministry’s monthly economic report. The GDP number for the March quarter, which will be released on May 31, is expected to be better than anticipated with analysts pegging it at 6.8%. So, the full year FY24 may turn out to be slightly better at 7.8% than the 7.6% projected by the National Statistical Office. The emerging robust trends in important high-frequency indicators of growth like the GST collections, e-way bills, electronic toll collections, sale of vehicles, purchasing managers’ indices, and the value and number of digital transactions attest to the growing strength of the economy, as per a report.
Source: Exim News Service: New Delhi, May 27