GDP growth clocks 7.6% in Q2

India’s economy grew 7.6 per cent in the September quarter as against 6.2 per cent in the year-ago period, according to official data released on Thursday. India remains the fastest-growing major economy, as China’s GDP growth in the July-September quarter this year was 4.9 per cent.

As per the National Statistical Office (NSO) data, the GVA (Gross Value Added) of the agriculture sector recorded a 1.2 per cent growth, down from 2.5 per cent in the July-September quarter of 2022-23.

The GVA growth of the manufacturing sector accelerated to 13.9 per cent in the second quarter of the current fiscal against a decline of 3.8 per cent a year ago.

The growth in Gross Domestic Product (GDP) during the April-September period in 2023-24 stood at 7.7 per cent compared to 9.5 per cent in the first half of the last financial year.

The GDP growth in the first quarter of the current fiscal remained unchanged at 7.8 per cent.

Meanwhile, the output of eight key infrastructure sectors rose by 12.1 per cent in October 2023 against 0.7 per cent expansion in the year-ago period.

All the sectors except for fertiliser recorded healthy production growth in the month under review.
The core sector (coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity) growth in September was 9.2 per cent.

Coal, steel, cement and electricity production recorded double-digit growth.
The output growth of eight sectors was at 8.6 per cent in April-October 2023-24 against 8.4 per cent in the year-ago period. — PTI