New Delhi, Aug 31 (IANS) BJP leader Gaurav Vallabh on Saturday described the figures for the first quarter of the financial year 2024-25 as quite impressive. He said that during the April-June period, all the important indices in the economy have seen an increase.
Talking to IANS, Vallabh said that the GDP growth rate in the June quarter of the financial year 2024-25 was 6.7 percent. We have to keep in mind that this was the time of elections, due to which government expenditure was low. If it was not an election year, this figure would have been around 7.25 percent.
Describing the figures as excellent, he said that in the period from April to June in the financial year 2024-25, sectors with high labor consumption such as construction have grown by 10.5 percent. Electricity, gas and water supply have increased by 10.4 percent and investment by 7.47 percent. Along with this, private expenditure has also increased. These are pleasant figures from the point of view of the economy.
Vallabh further said that private expenditure was not increasing for some time, but in the first quarter of the financial year 2024-25, private expenditure has increased by 7.45 percent. I am confident that the GDP growth rate will be around 7.25 percent in the July to September quarter.
The data for the first quarter of the financial year 2024-25 was released by the Ministry of Statistics on Friday. The GDP growth rate between April-June period of 2024-25 was recorded at 6.7 percent, which was 8.2 percent in the first quarter of the financial year 2023-24.
“The overall growth in the first quarter of FY 2024-25 was driven by significant growth in the secondary sector (8.4 per cent). This includes construction (10.5 per cent), electricity, gas, water supply and other utility services (10.4 per cent),” the ministry said.
–IANS
ABS/SKP
