The Indian economy retained its growth momentum in the opening quarter (April-July) of the current financial year, the Department of Economic Affairs said in its monthly economic review released on August 22.
As highlighted by the report, India’s key economic indicators present a positive outlook, underpinned by robust domestic activity, improving external trade, and growing capital flows. It also showed that perceived employment conditions show mixed signals, overall growth indicators suggest sustained momentum as FY25 progresses.
GST collections in the first four months of FY25 have surged due to a widened tax base and increased economic activity. This growth is reinforced by a double-digit rise in e-way bill generation, indicating sustained economic momentum. Manufacturing and services sectors have also shown strong performance, driven by robust demand and expanding capacity utilisation, with upcoming measures in the FY25 Union Budget expected to bolster these sectors further.
economictimes.indiatimes.com
