New Delhi, 16 September (IANS). The country’s GDP’s growth rate was 7.8 percent in the first quarter of FY 26, much higher than an estimate of 6.6 percent. This is due to the high growth rate in manufacturing and service sector. This information was given in a report released on Tuesday.
The CARAMARE Ratings report said, “The growth rate of three parts of the services sector- trade, hotels, transport and commerce and broadcosting services was 8.6 percent in the first quarter of FY 26, which was estimated to be 6 percent, which was estimated to be 6 percent, the growth rate of financial, real estate and professional services was 9.5 percent in the first quarter of the year, the growth rate of financial, real estate and professional services was 9.5 percent in the first quarter of the financial year, Administration and defense growth rate was 9.8 percent in the first quarter of FY 26, while it was estimated to increase at a rate of 8.7 percent. “
The faster speed in the services sector was somewhat reflected by high frequency indicators such as strong growth in central revenue expenditure, good services exports, e-way bill collection and increase in freight, which was higher than expected at the overall level.
On the other hand, the manufacturing sector was also well performed in the first quarter of FY 26. During this period, the growth rate of manufacturing sector was 7.7 percent, which was earlier 4.8 percent. It benefited from additional exports to developed countries before domestic consumption and tariff.
The report stated that the rapid increase in manufacturing is good news on the economy front. However, some regions performed weak, including sectors such as mining and electricity.
The total gross value added (GVA) growth was 7.6 percent in the first quarter of FY 26.
The report said that the difference between GDP and GVA remained as expected. The reason for this was to increase the increase in indirect taxes.
-IANS
ABS/
