Indian GDP: In the second quarter of this year, India's GDP growth rate has decreased. Last year, it was 8.1 percent in the same quarter, but this year it has fallen to 5.4 percent.
Economists attribute this to a drop in consumption and other factors.
The central government has released the GDP growth rate figures for the September quarter, showing that India's growth rate has fallen to 5.4 percent in the second quarter of this fiscal year.
According to the National Statistics Office, the GDP growth rate was 8.1 percent in the same quarter of the last financial year, up from 6.7 percent in the previous quarter. Additionally, the service sector has experienced growth.
A Rise Of 6.7% In The Initial Half
Private consumption spending (PFCE) increased by 6.0% in the second quarter and 6.7% in the first half, surpassing the lower rates from the previous year (2.6% and 4.0%).
Government Consumption Expenditure (GFCE) rebounded with a 4.4% growth compared to the minimal or negative growth in the last three quarters.
The manufacturing sector has grown by 2.2 percent. The mining industry has declined by 0.1 percent. Agriculture and its related fields have risen by 3.5 percent.
The construction industry has experienced a 7.7 percent increase. The service industry has expanded at a rate of 7.1 percent. Trade, hotels, transport, communication, and broadcasting have risen by 6 percent.