The Ministry of Statistics and Programme Implementation has released the Gross Domestic Product (GDP) data for the second quarter today, November 30. Indiaās GDP has witnessed a growth of 7.6% in comparison to 6.2% in July-September 2022.The Indian economy is recognized as a positive standout on the global stage, demonstrating robust performance in the initial half of FY24, marked by a significant 7.8 percent year-on-year growth in GDP during Q1FY24.
Data from the Index of Industrial Production (IIP) up to September reveals a modest 3.7 percent year-on-year growth in the output of consumer goods in the first six months of the year. Notably, the production of consumer durables has experienced a decline of 0.7 percent year-on-year. This downturn is indicative of the vulnerability in rural demand.