Asked whether the Q2 GDP numbers worried him at the India Economic Conclave organised by the Times Network, the minister said: "Well, I think, governments don't run 'quarter se quarter tak' [from one quarter to another]," and added that the blip was due to the "lag effect" of elections in the first quarter, which is now passé. He said during the election, policy making and implementations of projects slowed and there was a lag effect. But, "the initial numbers for this quarter, the 3rd quarter show a pick-up," he added.
The official data released on November 29 showed GDP growth rate slowing down to a seven-quarter low at 5.4% in Q2 of FY25.
While the Reserve Bank of India (RBI) on December 6 accepted that the real GDP in Q2 was "much lower than anticipated," it cited high-frequency indicators to conclude that the slowdown in domestic economic activities had already bottomed out "aided by strong festive demand and a pick-up in rural activities".
The RBI on December 6 projected the real GDP growth for financial year 2024-25 at 6.6%, with 6.8% in the third quarter and 7.2% in the fourth quarter.
This story is from the December 13, 2024 edition of Hindustan Times Navi Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 13, 2024 edition of Hindustan Times Navi Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Cummins, the pace spearhead driving Australia's serial success
Knack for wickets, unparalleled control and a never-say-die attitude for which Glenn McGrath will be revered as possibly the greatest Australian fast bowler in the last four decades.
Agarkar to Brief Selectors Ahead of BCCI Meet on Sunday
The selection committee will be in full attendance for the knockout rounds of the Vijay Hazare Trophy one-dayers in Vadodara, which start with the pre-quarter finals on Thursday.
Djokovic: At his happy hunting ground, with an old foe in tow
The Serbian has worked with Becker, Agassi and Ivanisevic. In Murray he has access to the mind of a master tactician
Indian hockey players bonding with the best in relaunched HIL
Skipper Sumit Walmiki and Australian Tim Brand walked to the dugout, shared a laugh and high-fived after Hyderabad Toofans' practice.
Shooter Tomar Finds Fresh High After Domestic Double
Varun Tomar's dream of representing India at the Paris Olympics was crushed when he lost in the domestic selection trials to pick the final squad.
Neeraj to star in a world javelin event in India
India's two-time Olympic medallist and reigning world champion Neeraj Chopra will be the star attraction in a marquee international javelin tournament at home later this year, the Athletics Federation of India (AFI) said on Tuesday.
Cloud over review of 14-yr-old trade pact with Asean
THE REVIEW HAS STALLED SINCE INDIA'S OFFER OF A UNIFIED DUTY STRUCTURE HAS NOT FOUND FAVOUR AMONG ASEAN MEMBERS
Meta Goes For Community Notes, Ends Fact-Checking
Meta Platforms chief executive officer (CEO) Mark Zuckerberg on Tuesday announced a decision to do away with the company's long-standing fact-checking teams—choosing instead to establish a 'community notes' mechanism akin to Elon Musk's X, formerly Twitter.
Capex allocation likely to rise 10% for roads, rlys
The Centre proposes to keep its focus on rapid infrastructure growth in the next financial year, with plans to push capex allocation for the ministries of road transport and highways, and railways in the upcoming budget by up to 10%, two persons aware of the development said.
Microsoft to Invest $3 Billion in AI, Cloud Expansion in India
The tech giant also plans to train 10 million people in AI skills in India by 2030
