INDIA’S 7.8 per cent real GDP growth in the first quarter of FY27 was supported by buoyant high-frequency economic indicators, including strong industrial activity and electricity consumption, according to Rumki Majumdar, Director and Chief Economist, Deloitte India. Speaking exclusively to ANI, Majumdar said the stronger-than-expected GDP growth suggests that the economy has remained resilient despite the uncertainties during the AprilJune period.
“The numbers that have come up are extremely positive. I don’t think the market had bet on a 7.8 per cent growth,” Majumdar said, adding that Deloitte is likely to significantly revise its growth projection for the full financial year.
Majumdar said the significance of the 7.8 per cent growth was greater because the April-June quarter was expected to be one of the more uncertain periods of the year, amid the impact of the war, higher petrol prices, rising fertiliser prices and the building impact of El Nino. She also said several high-frequency indicators were already pointing towards underlying buoyancy in the economy.
ANI
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