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HomeNewsOpinionServices sector powers near 8% real GDP growth in Q1, highlights strong momentum

Services sector powers near 8% real GDP growth in Q1, highlights strong momentum

Gaurav Kapur   •

The domestically oriented nature of India’s growth is visible in the spending side break-up of the GDP estimates. Private consumption growth accelerated to 6% yoy during Q1FY24 from 2.83% yoy in Q4FY23, helped by strong and resilient urban demand 

The MPC in its October meeting would weigh on whether the strong growth impulses are reinforcing demand side inflation pressures and the first quarter GDP would give them a reason to remain cautious

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