In the April-June period - the first quarter of the fiscal year 2012/13 - GDP increased 5.5% over the same period last year. The reading came in slightly above the 5.3% expansion observed in the previous quarter and matched last month's FocusEconomics Consensus Forecast. The acceleration over the previous quarter was mainly driven by a rebound in the manufacturing sector, which recovered from a 0.3% contraction in the previous quarter to a 0.2% expansion in Q1. Meanwhile, construction output recorded the strongest growth rate, increasing 10.9%, and finally, the important agricultural sector expanded 2.9%, an acceleration over the 1.7% expansion observed in Q4. On the other hand, the trade, hotels, transport and communication sector - which represents over a quarter of the overall economy - slowed down to a 4.0% expansion (Q4 2011/12: +7.0% yoy). The Central Bank expects GDP growth to reach 6.5% this fiscal year, which will end in March 2013, while the government sees the economy expanding 7.6%.
GDP accelerates a notch but remains lacklustre
September 10, 2012
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India Economic News
October 17, 2016
Recently-released data related to India’s external sector showed that the trade deficit totaled USD 8.3 billion in September, which was a smaller shortfall than the USD 10.2 billion gap recorded in September 2015 (August 2016: USD 7.7 billion deficit).
October 15, 2016
In September, consumer prices fell 0.23% from the previous month, which followed August’s flat growth.
October 12, 2016
The fall in industrial production moderated in August, after recording the largest contraction since November 2015 in July.
October 5, 2016
Activity in India’s manufacturing sector lost steam in September.
October 4, 2016
The newly facelifted Reserve Bank of India (RBI) decided to ease monetary policy at a scheduled meeting on 4 October, cutting the repurchase rate from 6.50% to 6.25%—an over five-year low.