GDP figures revealed, India’s growth rate was 7.8% in the first quarter

India GDP Q1 FY24: India’s growth rate (India GPD) during the first quarter of the current financial year was 7.8 percent. These figures have been announced by the government on Thursday. Let us tell you that the Reserve Bank of India estimates that India’s growth rate will be 6.5 percent during the current financial year. At the same time, the RBI in its report projected India’s GDP growth at 8 percent during the first quarter. At the same time, the IMF estimates that India’s economy will grow at 6.1 percent this year.

Investors pounced as soon as the IPO opened, 70 percent subscribed on the first day, GMP created a stir.

Decline in core sector growth

July has not been good for core sector growth. It has seen a decrease in July. According to government data, the growth rate of the core sector stood at 8 percent in July. In the same month a year ago, the growth of the core sector was 4.8 percent. Let it be known that the growth rate of eight basic industries was 8.3 percent in the month of June of the current financial year.

What is the status of fiscal deficit?

India’s fiscal deficit in the first four months of the current financial year was Rs. 6.06 lakh crore has been reached. According to figures released by the government, this is 33.9 percent of the current fiscal year’s fiscal deficit. Let us tell you that on Thursday, the rupee closed at 82.79 (provisional) against the US dollar by 16 paise. The strengthening of the US currency and rising crude oil prices had an impact on the local currency.