Karnataka Minister Santosh Lad has hailed the state's progress, stating that it has emerged as a leader in economic growth, recording an impressive 10 per cent GDP growth compared to the national average of 8.2 per cent.
The Organisation for Economic Co-operation and Development (OECD) stated that Austria's economic activity is projected to recover slowly from a two-year contraction, with GDP growing by 1.1 per cent in 2025 and 1.4 per cent in 2026.
"As a result, the Standing Deposit Facility (SDF) rate remains at 6.25 per cent, and the Marginal Standing Facility (MSF) rate, along with the Bank Rate, stays at 6.75 per cent," Das added.
The downgrade comes after the growth slowdown in the quarter ending September 2024. India's GDP growth slowed to 5.4 per cent year-on-year (YoY) in the July-September quarter of 2024, marking its lowest level since March 2023.
"The GDP growth figures released three days back for the quarter July-Sept 2024 revealed a dramatic fall in the GDP growth rate. These depressing results are ultimately a result of the Modi Government's failure to boost private investment in manufacturing," Jairam Ramesh said in a statement.
India's economic growth is expected to grow at from the rate of 6.7 in the second half (H1) of the fiscal, taking the full year 2024-25 GDP growth to 6.4 per cent, JP Morgan said in a report.
With India logging disappointing growth in the July-September quarter, Crisil now expects GDP growth to slow to 6.8 per cent this financial year 2024-25. Last year, India grew at 8.2 per cent.
Congress has said that the GDP growth figures released last evening for July-Sept 2024 are "much worse than anticipated and the fundamental cause for this is "stagnant wages" for crores of workers.
Expressing his disappointment at the second-quarter estimates of 5.4 per cent GDP growth, Charan Singh, Chief Executive Officer, EGROW Foundation, has said that corrective measures should be taken faster economic growth and interest rates should be brought down.
Noting that GDP growth figures for the July-September 2024 quarter are "much worse than anticipated," with India recording 5.4 per cent growth and consumption growing by "unimpressive 6 per cent", Congress leader Jairam Ramesh on Saturday said the fundamental cause for this is "stagnant w