India's Economy Grows 7.8% in Fiscal First Quarter
· Business · CNBC, Indian Express
India's economy expanded by 7.8% during the quarter ending in June, surpassing market expectations of 7.1%. Growth was primarily driven by strong performances in the financial, real estate, information technology, and professional services sectors. While the Reserve Bank of India previously projected 7% growth for this period, the actual figure marks a decline from the 7.8% recorded in the preceding quarter. The central bank maintains a growth forecast of 6.7% for the financial year ending in March 2027.
Why it matters
The higher-than-expected growth rate signals resilience in key service sectors, which may influence future monetary policy decisions by the Reserve Bank of India.
Read the original report — CNBC
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