New Delhi:
The nation’s financial progress has declined to five.4 p.c within the July-September quarter of the present monetary yr because of poor efficiency of the manufacturing sector, which is its lowest degree in virtually two years. This info was given within the official figures introduced on Friday. The financial progress fee in the identical quarter a yr in the past was 8.1 p.c.
The earlier low degree of gross home product (GDP) progress was 4.3 p.c, which was recorded within the October-December quarter of the monetary yr 2022-23. Nevertheless, India remained the quickest rising main financial system. China’s GDP progress fee within the July-September quarter this yr was 4.6 p.c.
Nationwide Statistical Workplace (NSO) information exhibits that the agriculture sector grew by 3.5 per cent within the July-September quarter of monetary yr 2024-25, in comparison with 1.7 per cent in the identical interval a yr in the past.
India’s GVA grew on the fee of 5.6% within the July-September quarter. GVA progress in the identical quarter a yr in the past was 7.7%. On the similar time, GVA progress within the final quarter was 6.8%. GDP progress has slowed down because of poor efficiency of the manufacturing sector.
The expansion fee of the manufacturing sector fell to 2.2 p.c within the final quarter, whereas a yr in the past it had registered a progress of 14.3 p.c.
With the arrival of GDP figures for the second quarter, GDP progress within the first half of the present monetary yr has been estimated at 6 p.c. GDP progress within the first half of the final monetary yr was 8.2 p.c. GDP progress within the first quarter of the present monetary yr remained unchanged at 6.7 p.c.
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