GDP Q2 Data Update: GDP data for the second quarter July to September of the current financial year 2023-24 will be declared on Thursday 30 November 2024. And like the first quarter, the economic growth rate in the second quarter is also expected to be excellent. Economic Affairs Secretary Ajay Seth has also expressed hope that the GDP figures will be better in the second quarter.
The Ministry of Statistics will release GDP figures for the second quarter. The economic growth rate in the first quarter between April and June was 7.8 percent. The economy has seen rapid growth in the second quarter also. The Economic Affairs Secretary said that the figures for the second quarter will be better. He said that despite the increase in expenditure on food subsidy, the fiscal deficit is expected to be 5.9 percent. He said that despite increasing the food subsidy for 5 years, there will be no problem in achieving the fiscal deficit target. The government has set a target of bringing the fiscal deficit below 4.5 percent by 2025-26.
Earlier, while announcing the monetary policy on October 6, 2023, RBI Governor Shaktikanta Das said that consumption has increased due to increase in demand in urban areas, while improvement in demand is being seen in rural areas also. He said that the growth in services, consumer and business sentiments is better and the economy is benefiting from the increase in capital expenditure of the government. There is improvement in the balance sheets of banks and corporates, the supply chain has improved. But the RBI Governor said that global tensions and economic challenges pose the biggest risk.
RBI has set a target of 6.5 percent GDP for 2023-24. Whereas the Central Bank believes that GDP is expected to be 6.5 percent in the second quarter. Whereas GDP is expected to be 6 percent in the third quarter and 5.7 percent in the fourth quarter.
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