India's GDP growth slows to 6.3% in Q2

-

India's GDP growth slows to 6.3% in Q2

India's economic growth slowed to 6.3% in the second quarter of FY24 from 7.5% in the first quarter, according to data released by the Ministry of Statistics and Programme Implementation (MOSPI). The slowdown was attributed to a moderation in manufacturing and construction activities.

The growth in the manufacturing sector slowed to 4.1% in Q2 from 5.1% in Q1. The slowdown in the manufacturing sector was due to a decline in consumer goods and capital goods production.




The growth in the construction sector slowed to 7.5% in Q2 from 11.6% in Q1. The slowdown in the construction sector was due to a decline in government spending and a slowdown in private investment.

The growth in the services sector remained robust at 8% in Q2, compared to 8.4% in Q1. The strong growth in the services sector was driven by the financial, professional, and trade, hotels, and transport sectors.

Overall, India's GDP growth slowed in Q2 due to a moderation in manufacturing and construction activities. However, the growth in the services sector remained robust. The slowdown in GDP growth is likely to have a knock-on effect on other sectors of the economy.

Conclusion


The slowdown in India's GDP growth is a cause for concern, but it is important to note that the growth rate is still above the long-term average. The government will need to take steps to boost investment and consumption in order to revive economic growth.

Title: India's GDP growth slows to 6.3% in Q2
Meta Description: India's GDP growth slowed to 6.3% in the second quarter of FY24 from 7.5% in the first quarter, according to data released by the Ministry of Statistics and Programme Implementation (MOSPI). The slowdown was attributed to a moderation in manufacturing and construction activities.
Keyword Density: GDP, India, economic growth, manufacturing, construction, services
H1 Heading: India's GDP growth slows to 6.3% in Q2
H2 Subheading: India's Q2 GDP Growth Slows Due to Moderation in Manufacturing and Construction
Internal Linking: Link to other relevant blog posts or articles on India's economy, manufacturing, or construction.
External Linking: Link to credible sources of information, such as the MOSPI website or the World Bank website.

Links to Credible Sources:

MOSPI website: https://www.mospi.gov.in/: https://www.mospi.gov.in/
World Bank website: https://www.worldbank.org/: https://www.worldbank.org/
Please note that this is just a summary of the news story and does not include any analysis or commentary. For a more in-depth analysis of the news story, please refer to the original sources.

Comments

Post a Comment

Best Blogs

IB Interview Questions: M&A : Level 1 M&A Questions

-
Image
1. Why do companies merge? While are many reasons that companies merge the underlying driver of most M&A deals to expedite growth and/or generate cost savings to create value for the owners of the business. When people say that M&A is an ‘art’ and a ‘science’, what does that mean? The science refers to the mechanical valuation methods (Comps, DCF, etc.), but the art is in making a judgment call on valuation based on the outputs of the various valuation methodologies. 2. Who can pay more when buying a company: a Financial buyer or Strategic buyer? Why? Strategic (i.e. corporate) buyers can typically pay more than Financial (i.e. Private Equity) buyers because strategic buyers typically have overlapping operations that can be removed post-merger to generate cost savings (i.e. Synergies). 3. When are sponsors and corporate buyers on equal footing? When a Financial buyer already owns a competing asset, they can generate synergies (which justifies a higher price) and thus are on mor...
Read more

Getting into Investment Banking: A Comprehensive Guide

-
Image
Introduction Breaking into investment banking (IB) is no small feat, whether you're pre-MBA or post-MBA, from a target or non-target school. While high GPAs and test scores are standard, they are often not enough to stand out. Here’s a strategic approach to help you embark on a successful investment banking career. 1. Network Extensively When your application lands at an investment bank, it’s usually reviewed by a small team of bankers responsible for recruiting from specific schools. Given the competitive nature of this field, networking is crucial. Why Networking Matters: Decision-making bankers are more likely to advocate for you if they know you. Especially vital for non-target school students. Engage with alumni and other connections at your target firms. How to Network: Start reaching out to analysts and associates a few months before core recruiting starts. Look for non-target alumni if you're from a non-target school; they often help each other out. Demonstrate Interest...
Read more