Key Points
In the just concluded financial year, Indias GDP grew at an impressive pace, posting above 8 percent growth for three consecutive quarters...
Most of the high frequency indicators show improved activity in the manufacturing and services sector in the financial year 2024..
While exports were impacted due to subdued growth in Indias trading partners, narrowing trade deficit owing to decline in commodity prices bodes well for Indias current account deficit in the financial year 2024...
In April-February of financial year 2024, exports contracted by 3.3 percent while imports were down by 1.2 percent, but exports of services are seen to be catching up with exports of goods, resulting in a narrowing of the current account deficit..
Even the production of consumer goods averaged 3.6 percent in the 10 months of the financial year 2024 the lowest average growth among the various components of IIP per the use-based classification...
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