Highlights:
- GDP grew at a higher-than-expected rate of 7.6% in Q2 FY24.
- The growth was propelled by acceleration in investments and higher government consumption.
- Private consumption disappointed due to weak rural demand.
- Manufacturing and construction sectors were the main driver of growth.
- Agriculture sector growth was impacted due to weak monsoon and erratic rainfall.
- Some moderation in growth is expected in H2 FY24.
- However, overall for FY24, GDP growth will remain on a firm footing.
