Jul-Sep GDP May Be Revised Upwards, 6.5-7 Pc Growth In FY'25 Feasible: CEA Nageswaran <meta name="twitter:card" content="summary_large_image"> <meta name="twitter:site" content="@ManashjyotiS"> <meta name="twitter:title" content="Jul-Sep GDP May Be Revised Upwards, 6.5-7 Pc Growth In FY'25 Feasible: CEA Nageswaran"> <meta name="twitter:description" content="<p style="text-align: justify;">New Delhi: Chief Economic Advisor V Anantha Nageswaran has said that the economic activity in some sectors has picked up pace during October-November, and a GDP growth of 6.5-7 per cent in the current fiscal is feasible. On Thursday, V Anantha Nageswaran also said the 5.4 per cent second quarter GDP growth estimate could be revised upwards going forward, as the current estimates are not seasonally adjusted. </p> <p style="text-align: justify;"><strong>ALSO READ: <a class="fw-bold" href="../meghalaya-cm-launches-um-rupa-premium-mineral-water-boosting-local-entrepreneurship" target="_blank" rel="noopener">Meghalaya CM Launches 'Um Rupa Premium Mineral Water,' Boosting Local Entrepreneurship</a></strong></p> <p style="text-align: justify;">"I think in reacting to these numbers, I don’t think we should throw the baby out with the bathwater. Because the underlying growth story still remains very much intact," the CEA said.</p> <p style="text-align: justify;"><a href="https://www.ptinews.com/story/business/jul-sep-gdp-may-be-revised-upwards-6-5-7-pc-growth-in-fy-25-feasible-cea-nageswaran/2046060" target="_blank" rel="noopener">India's economic growth slowed</a> to a seven-quarter low of 5.4 per cent in the July-September quarter from 6.7 per cent in the April-June quarter. V Anantha Nageswaran said the slowdown in GDP growth in the second quarter could be because of some 'religious observances' in September and excess monsoon rainfall because of more long-standing issues that are beginning to emerge. </p> <p><img class="img-responsive" style="display: block; margin-left: auto; margin-right: auto;" title="gdp.jpeg" src="../storage/app/public/post/inner-photo/blobid1733412008049.jpg" alt="" width="521" height="293"></p> <div class="flex max-w-full flex-col flex-grow"> <div class="min-h-8 text-message flex w-full flex-col items-end gap-2 whitespace-normal break-words text-start [.text-message+&]:mt-5" dir="auto" data-message-author-role="assistant" data-message-id="0a8fcfb8-ab5f-45df-abdf-b67db42cadd7" data-message-model-slug="gpt-4o-mini"> <div class="flex w-full flex-col gap-1 empty:hidden first:pt-[3px]"> <div class="markdown prose w-full break-words dark:prose-invert light"> <p style="text-align: center;"><span style="font-size: 8pt;"><em>CEA Nageswaran suggests GDP growth may revise upwards to 6.5-7% in FY'25 with economic activity picking up pace in October-November.</em></span></p> </div> </div> </div> </div> <p style="text-align: justify;">"So explanations could be from mundane to more serious ones," he said, adding that this is the first estimate for second-quarter GDP growth. "It could be revised higher," he said, adding that the Economic Survey had projected 6.5-7 per cent for the financial year 2024-25. </p> <p style="text-align: justify;"><strong>ASLO READ: <a class="fw-bold" href="../fairfax-india-buy-extra-10-per-cent-stake-bengaluru-airport-operator-bial" target="_blank" rel="noopener">Fairfax India To Buy Extra 10 Per Cent Stake In Bengaluru Airport Operator BIAL</a></strong></p> <p style="text-align: justify;">"To be able to hit 6.5 per cent growth for the year as a whole, we need a 7 per cent real GDP growth in the next two quarters, of which two months are already over in the third quarter. We are in the third month. "I think that it is doable if you look at some of these pickups that have happened in specific areas. So, I believe that a growth outcome in the range of 6.5-7 per cent is feasible for the year," Nageswaran said at an Assocham event. The Indian economy grew 8.2 per cent in the 2023-24 financial year. The Reserve Bank of India (RBI) had projected 7.2 per cent growth in the current fiscal, higher than the 6.5-7 per cent projected in the Finance Ministry's Economic Survey. </p>"> <meta name="twitter:image" content="https://business-northeast.com/image-compress.php?imgpath=https://www.business-northeast.com/storage/app/public/post/feature-img/661371733412118.jpeg"> <meta property="og:image" content="https://business-northeast.com/image-compress.php?imgpath=https://www.business-northeast.com/storage/app/public/post/feature-img/661371733412118.jpeg">

Jul-Sep GDP May Be Revised Upwards, 6.5-7 Pc Growth In FY'25 Feasible: CEA Nageswaran

BNE News Desk ,

December 5, 2024

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New Delhi: Chief Economic Advisor V Anantha Nageswaran has said that the economic activity in some sectors has picked up pace during October-November, and a GDP growth of 6.5-7 per cent in the current fiscal is feasible. On Thursday, V Anantha Nageswaran also said the 5.4 per cent second quarter GDP growth estimate could be revised upwards going forward, as the current estimates are not seasonally adjusted.

ALSO READ: Meghalaya CM Launches 'Um Rupa Premium Mineral Water,' Boosting Local Entrepreneurship

"I think in reacting to these numbers, I don’t think we should throw the baby out with the bathwater. Because the underlying growth story still remains very much intact," the CEA said.

India's economic growth slowed to a seven-quarter low of 5.4 per cent in the July-September quarter from 6.7 per cent in the April-June quarter. V Anantha Nageswaran said the slowdown in GDP growth in the second quarter could be because of some 'religious observances' in September and excess monsoon rainfall because of more long-standing issues that are beginning to emerge.

CEA Nageswaran suggests GDP growth may revise upwards to 6.5-7% in FY'25 with economic activity picking up pace in October-November.

"So explanations could be from mundane to more serious ones," he said, adding that this is the first estimate for second-quarter GDP growth. "It could be revised higher," he said, adding that the Economic Survey had projected 6.5-7 per cent for the financial year 2024-25.

ASLO READ: Fairfax India To Buy Extra 10 Per Cent Stake In Bengaluru Airport Operator BIAL

"To be able to hit 6.5 per cent growth for the year as a whole, we need a 7 per cent real GDP growth in the next two quarters, of which two months are already over in the third quarter. We are in the third month. "I think that it is doable if you look at some of these pickups that have happened in specific areas. So, I believe that a growth outcome in the range of 6.5-7 per cent is feasible for the year," Nageswaran said at an Assocham event. The Indian economy grew 8.2 per cent in the 2023-24 financial year. The Reserve Bank of India (RBI) had projected 7.2 per cent growth in the current fiscal, higher than the 6.5-7 per cent projected in the Finance Ministry's Economic Survey.