Data shows weakness in the consumption story. Private final consumption expenditure was a let-down as growth nearly halved to 3.1% in Q2, from 6% in Q1. Another disappointment was the agriculture sector that grew a mere 1.2%, its slowest expansion in four and a half years.
India Q2 GDP: Economists pointed out that the strong growth of 7.6 percent was almost entirely driven by investments and fiscal spending, with private consumption growth remaining weak
India s Q2 GDP growth data is expected to surpass RBI s estimates for the second time in a row, with most analysts expecting a growth rate of 7 percent or above.
Ministry of Agriculture and Farmers Welfare in its first advance estimate for the kharif crop has projected a dip of about 9 million metric tonnes (mmt) of foodgrains on year