After Q2 slowdown, economy on recovery path: RBI

December 24, 2024 19:40

The Indian economy is recovering from the slowdown in momentum witnessed in the September quarter, driven by strong festival activity and a sustained upswing in rural demand, according to a Reserve Bank of India bulletin released on Tuesday.

An article on the 'State of the Economy' in the December Bulletin noted that the global economy continues to exhibit resilience with steady growth and moderating inflation.

"High frequency indicators for the third quarter of 2024-25 indicate that the Indian economy is recovering from the slowdown in momentum witnessed in Q2, driven by strong festival activity and a sustained upswing in rural demand," it said.

The prospects for agriculture and hence rural consumption are looking up with brisk expansion of rabi sowing, said the article authored by a team led by RBI deputy Governor Michael Debabrata Patra.

India's GDP growth slowed to a seven-quarter low of 5.4 percent during the July-September period of the current fiscal year.

The RBI said the views expressed in the bulletin are of the authors and do not represent the views of the central bank. -- PTI

« Back to LIVE

TOP STORIES

Atalji@100: Vajpayee's Unmatched Legacy

It was good fortune for India to have Atal Bihari Vajpayee lead the government at a crucial moment in our history. He avoided India meeting the fate of Iraq or Ukraine, asserts military historian Colonel Anil A Athale (retd).

LIVE! Atishi likely to be arrested soon: Kejriwal

Delhi govt departments warn public about AAP schemes

The Delhi government's Women and Child Development and Health departments issued public notices on Wednesday distancing themselves from the ruling Aam Aadmi Party's promised schemes of providing Rs 2,100 to women and free treatment for...

Afghanistan: Local staffer at Indian consulate shot at

An Afghan national working at the Indian consulate in Jalalabad sustained injuries when unidentified persons opened fire at his vehicle. India had closed operations at the consulate in 2020 but a number of local staffers were working at...

Pak bombings in Afghanistan kill 15; Kabul to retaliate

The ministry stated that defending their land and sovereignty is their legitimate right, and condemned the attack, claiming that "Waziristani refugees" were among those targeted.