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Indian economy grew by 6.7% in the April-June quarter, which is lower than the RBI's estimate

Published on August 31, 2024
Current Context: India's economy grew slower than the Reserve Bank of India (RBI) had projected for the April-June quarter. The actual growth rate of 6.7% was slightly below the RBI's estimate.
Indian economy grew by 6.7% in the April-June quarter, which is lower than the RBI's estimate
  • Key factors contributing to this slowdown include:
    • Government spending: The government's spending was lower than expected due to the recent Lok Sabha elections.
    • Manufacturing: While manufacturing showed some resilience, it wasn't enough to offset the slowdown in other sectors.
    • Services: The services sector, which is a significant contributor to India's economy, also saw a slight slowdown.
  • Despite this, India's economy remains one of the fastest-growing major economies in the world. The RBI has maintained its full-year growth forecast of 7.2%.

Question:

1 What was the actual growth rate of India’s economy for the April-June quarter?

  • A) 7.2%
  • B) 7.8%
  • C) 6.7%
  • D) 8.2%
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