India's economy grew in Q1 FY25 due to strong manufacturing and services sectors, increased GST collections, and net FPI buying.
India's economy sustained growth momentum in the first quarter of FY25, driven by strong performances in manufacturing and services sectors, robust demand, and expansion in output prices, according to the RBI's monthly economic review. GST collections, capacity utilization, and new order uptakes increased, while foreign portfolio investors were net buyers since June 2024. The Union Budget FY25 targets a decline in fiscal deficit, supported by strong revenue collection and robust economic performance.
August 22, 2024
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