Moderation in industrial growth, agri likely to drag down GDP growth in Q3

Meanwhile, services which are the major contributor to the Indian economy display an improvement in Q3, led by trade, hotels, transport and communication services

The Indian economy is likely to report a slowdown in the third quarter (October-December) of FY24 owing to deceleration in industrial growth, agricultural output, and consumption, an analysis of high-frequency indicators shows.
 

Analysts say the gross domestic product (GDP) figure in the December quarter of FY24 is expected to remain closer to 6.5 per cent, registering a sharp slowdown from the 7.6 per cent recorded in the second quarter (Q2) this financial year. 
 

The Reserve Bank of India (RBI) expects growth to have been 6.5 per cent in the third quarter. The official GDP data for Q3, along with the