Books & Magazines

Prelims Wallah (Q&A Bank)

Udaan

Udaan 500+

Budget & Economic Survey

Monthly Current Wallah

Weekly Current Wallah

Editorial Summary

Editorial Q&A Compilation

NCERT Wallah

Prahaar (Mains Wallah)

Marks Booster

Mains Wallah (Q&A Bank)

UPSC PYQs

UPSC Notes

CA & Editorials

Daily Current Affairs

Subject Wise Current Affairs

Editorial Analysis

Other Resources

Current Affairs

Assessing India GDP Growth Rate Trajectory: Q1

Assessing India GDP Growth Rate Trajectory: Q1 FY24 Insights | PWOnlyIAS 2023

PWOnlyIAS

September 22, 2023

Subject: GS-03: Indian Economy

Context:

  • In the 1st quarter (Q1) of financial year 2024 (FY24), Assessing India’s GDP Growth rate witnessed inflationary pressures, a falling rupee, fluctuations in tax revenue streams and an apprehensive outlook on the agriculture sector.

India GDP growth rate of Q1 FY24: Insights and Projections

  • The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation released the estimates of GDP for the quarter (Q1) of 2023-24.
  • The Q1 data covering the GDP growth rate from April to June of FY24 boasts a nominal growth rate of 8% and a real growth rate of 7.8%.
  • Agriculture sector currently reflects an uptick, growing at 3.5%. However, it is unlikely to be sustained due to pressure from the El Niño phenomenon.
  • The services industry, with financial, real estate and professional services growing at 12.2%.
  • Growth rate is expected to be sustaining around 6.5% for the current financial year.

Calculating Gross Domestic Product (GDP):

  • Conventional way to assess a country’s economic situation is to look at the quarterly (three-month) and annual (12-month) GDP growth rate and compare it to previous quarters as well as years.

News Source: The Hindu

 

Print Friendly, PDF & Email

To get PDF version, Please click on "Print PDF" button.

Print Friendly, PDF & Email

Recent Editorial

India-Australia Defence Ties Beyond American Shado...

A Strategy Fuelled by Vision, Powered by Energy

​Act North: On the Needs of Ladakh

Strengthening the U.S.-India Subsea Cable Agenda

On India and COVID-19

The DM Position is Outdated. It’s a Personality ...

Popular current affairs

Scheme to Promote Manufacturing of Electric Passen...

Ladakh’s New Rules on Quota, Domicile and Hill C...

First Fusion-Fission Hybrid Reactor: China Unveils...

Legislatures Enacting Laws Not Contempt of Court: ...

ICRISAT Centre of Excellence for South-South Coope...

World Air Transport Summit 2025 Key Highlights

Our Courses

Our Courses

Need help preparing for UPSC or State PSCs?

Connect with our experts to get free counselling & start preparing

Aiming for UPSC?

Download Our App

# #

Download Our App

# #

Contact Details

Aiming for UPSC?

Download Our App

# #
      

Follow Us:

Contact Details

Download Our App

# #
Quick Revise Now !
AVAILABLE FOR DOWNLOAD SOON
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध
Quick Revise Now !
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध

<div class="new-fform">






    </div>

    Subscribe our Newsletter
    Sign up now for our exclusive newsletter and be the first to know about our latest Initiatives, Quality Content, and much more.
    *Promise! We won't spam you.
    Yes! I want to Subscribe.