India's GDP growth at 6.7% in Q1 vs 7.8% in previous quarter; catch key takeaways here

GDP Data: India's gross domestic product (GDP) expanded 6.7 per cent in the April-June period, showed official data released on Friday. That marked the lowest reading of GDP expansion in five quarters. Economists in a Zee Business poll had pegged the country's GDP growth at 6.9 per cent for the first three months of the current financial year.

The latest quarterly reading fell short of most economists' expectations and below the Reserve Bank of India's projection of 7.1 per cent.

For the previous three months, the country's GDP growth was recorded at 7.8 per cent, and at 8.2 per cent for the first quarter of FY24.

Q1 FY25 GDP reading is the lowest in 5 quarters, as per official data

Real gross value-added (GVA) growth came in at 6.8 per cent in the fiscal first quarter, lower than the growth rate of 8.3 per cent recorded in the corresponding period a year ago.

Here's how various sectors performed, as per the latest quarterly data:

"Muted services growth is largely attributable to the disruptive effects of Lok Sabha elections manifested in high-frequency indicators and the intense heat wave witnessed this year. Overall, for FY25, we see GDP growth at 7 per cent," said Manoranjan Sharma, Chief Economist at Infomerics Ratings.