India’s Q1 GDP growth rate slows down to 6.7%

NEW DELHI, Aug 30: India's gross domestic product slowed to a quarter low of 6.7 per cent in April-June this fiscal against 8.2 per cent in the year-ago period, mainly due to poor showing by the farm sector, according to government data.
India remains the fastest-growing major economy, as China's GDP growth in the April-June quarter was 4.7 per cent.
The agriculture sector recorded a 2 per cent growth, down from 3.7 per cent in the April-June quarter of 2023-24, as per the National Statistical Office (NSO) data released on Friday.
However, the growth in the manufacturing sector accelerated to 7 per cent in the first quarter of the current fiscal compared to 5 per cent in the year-ago period.
The previous GDP low was 6.2 per cent in January-March 2023.