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India s economy grew at a rate of 7.8% in the June quarter, driven by a recovery in services and an increase in investment. The data also showed an improvement in consumer demand. However, economists expect growth to moderate due to factors such as a below-par monsoon, high inflation, and an adverse global environment. Election spending and festive demand may provide some support to growth. ....
The RBI board in its meeting reviewed the global and domestic economic situation and associated challenges including the impact of current global geopolitical developments. ....
India s chief economic adviser, V Anantha Nageswaran, believes that the country s growth prospects remain strong due to robust investments and consumption. Despite external risks, India s economy grew by 7.8% in the June quarter, making it the fastest-growing major economy in the world. Nageswaran highlighted that private sector investment has already taken off, supported by the government s capital expenditure push. ....