Page 5 - Gdp Data News Today

The strong momentum seen last week has led to the hope of the momentum continuing in the week ahead. However, sustenance of the momentum depends on the outcome of certain crucial events such as the outcome of the assembly elections that took place in 5 states, the outcome of which will be out on Sunday.

The first thing to watch out for will be the outcome of the assembly elections that took place in Chhattisgarh, Madhya Pradesh, Mizoram, Rajasthan and Telangana. The results will be declared on Sunday.

While the Q2 GDP growth rate at 7.6% surpassed all expectations, Street favourite BJP is seen winning the key Hindi belts of Rajasthan and Madhya Pradesh. Historically, too, December has been dominated by bulls as in the last 12 years, Nifty has ended in the green on seven occasions.

Services seen as contributing the largest share of overall growth in the second quarter, even as the sector, along with agriculture, may see a slight moderation in growth.

India Business News: Most analysts expected the Q2 GDP growth data to moderate to around 6.8%. The 7.6% GDP growth is a slight moderation from the 7.8% GDP growth witnesse

India Business News: GDP data explained: India has retained its tag of being the fastest growing major global economy. The Indian economy is on a strong footing led by dom

Addressing the media after the release of GDP data, Nageswaran also highlighted that tax revenue has grown at almost double the pace of nominal GDP expansion in the first half of FY24, which is unusual. This, he said, is prompting him to wonder if the nominal growth rate has been understated. Its certainly not overstated, as is the perception in certain quarters, he asserted.

The latest forecast still means record borrowing volume in the fourth quarter.

Finance Ministry, in its latest post on X, defended its GDP numbers and gave a 10-point reply to critics who are questioning the GDP data

Indias economy grew at a rate of 7.8% in the June quarter, driven by a recovery in services and an increase in investment. The data also showed an improvement in consumer demand. However, economists expect growth to moderate due to factors such as a below-par monsoon, high inflation, and an adverse global environment. Election spending and festive demand may provide some support to growth.