GDP 2024: Will there be a major change in the Indian economy .. What do the key factors say ..!
There are many positive predictions about GDP to be released this evening. This can lead to strong growth. Experts on many fronts are predicting that the two targets may come.
In this context, what are the key things to look out for in today’s GDP? With the economy collapsing to an all-time low last year, the first quarter growth of the current financial year has generated great anticipation.
International research institutes and experts have issued a positive report on this. Significantly, the Reserve Bank of India has forecast 21.4% growth, further boosting these expectations.
Positive predictions
In this article we are going to look at what kind of things we should all be looking at in the GDP that will be released today, despite the fact that predictions are coming out that such an unexpected amount of growth can be seen. In that sense the first thing we see today is that the agriculture sector is playing a major role in the Indian economy in the current financial year.
Development in the agricultural sector
The agriculture sector, which plays a key role in the country’s economic growth rate, may not grow as much as expected in the first quarter of the current financial year. Agriculture and agro-based sectors have been affected by the monsoon, which has seen a change in the seasons. This is expected to have an impact on GDP.
Manufacturing sector
The manufacturing sector, which plays a key role in GDP, saw a slower growth rate in the June quarter. This is expected to slow to 39.3% growth in the manufacturing sector in the June quarter.
Strict restrictions have been imposed in some states to curb the impact of corona on the country. Thus production saw a sharp decline. So this is also expected to resonate with GDP.
Investment & Infrastructure Department
The growth rate in the investment & infrastructure sector, which plays a key role in the country’s growth, saw the worst decline in the first quarter. As a result, the employment rate has plummeted. The country’s economy was in a slump due to the Corona, while the investment & infrastructure sector was also in a slump.
Consumption decline
At a time when the country’s unemployment rate was rising, the source of income for the population was declining. Thus the consumption of the people is also reduced. To further encourage this, prices were rising. As a result, consumption has plummeted, which could have an impact on GDP.
Service Department
Services, including hotels, transportation and communications, saw a sharp decline. The service sector was one of the worst affected sectors during the Corona period. It is noteworthy that thus saw the worst fall.
However during the nationwide lockdown during the first phase of the expansion, the economy saw its worst decline. Thus it is seen as a bit of a consolation that there will not be such an impact in the current year.
