GDP - Q2 FY 2024

The Indian economy posted robust gains in the second quarter of FY 2023-24, driven by a sharp rebound in the industrial sector activity. The real GDP growth for the second quarter stood at 7.6 per cent, standing significantly higher than RBI’s projection of 6.5 per cent for the quarter. With this, the real GDP growth for the first half of the year stands at 7.7 per cent, implying that the economy stands on a rather firm footing, despite external headwinds and higher interest rates prevailing currently. The annual growth in GVA stood at 7.4 per cent during the quarter as against 5.4 per cent in the corresponding period of last year.