Recent indicators suggest that private consumption is resuming its role as the main driver of demand and is gaining broad base to include rural consumers. The bulletin said the fast-moving consumer goods sector is gearing up for a strong turnaround on expectations of increased public welfare spending.
The decline in walk-in customers is being compensated by e-commerce platforms, especially in the heatwave situation. Investment has maintained steady growth; Some softness in the recent period may be due to the impact of temporary uncertainty on investment decisions, but this too shall pass.
The RBI bulletin also said that a strong revival in private investment will have to be the most important factor driving growth in the coming years, especially as public finances strengthen.Government consumption expenditure increased modestly by the end of 2023-24, reflecting a continued focus on capital expenditure which is positive for the medium-term prospects of the economy and investor sentiment.
"In a pleasant surprise, net exports have improved their contribution to GDP, especially high-end manufacturing. A structural change is also being witnessed in the services sector. GVC participation in services is lower in the value-added trade process. Outsourcing services appear to be gradually maturing, the bulletin said, in the form of high value-added services such as those provided by Global Competence Centers (GCCs), which move innovation and high-value activities from cost-saving institutions. centers and are expanding into tier-II cities.For both, near-term prospects look bright.
In fact, in the case of the latter, India's commercial realty landscape in satellite and tier II cities is undergoing a significant transformation due to infrastructure development in the form of road networks and metro connectivity, strategic urban planning and relatively low cost of living. Is.
The services sector maintained expansion at pre-pandemic trend rates, and was led by finance, insurance, real estate and business services.
Although agriculture and allied activities remained slow, there is considerable optimism about better performance in 2024-25.
The India Meteorological Department (IMD) got it right.The bulletin said timely arrival of monsoon rains bodes well for kharif sowing and replenishment of reservoirs, thereby achieving the food grain target of 340 million tonnes for the 2024-25 crop year (July-June) .
The decline in walk-in customers is being compensated by e-commerce platforms, especially in the heatwave situation. Investment has maintained steady growth; Some softness in the recent period may be due to the impact of temporary uncertainty on investment decisions, but this too shall pass.
The RBI bulletin also said that a strong revival in private investment will have to be the most important factor driving growth in the coming years, especially as public finances strengthen.Government consumption expenditure increased modestly by the end of 2023-24, reflecting a continued focus on capital expenditure which is positive for the medium-term prospects of the economy and investor sentiment.
"In a pleasant surprise, net exports have improved their contribution to GDP, especially high-end manufacturing. A structural change is also being witnessed in the services sector. GVC participation in services is lower in the value-added trade process. Outsourcing services appear to be gradually maturing, the bulletin said, in the form of high value-added services such as those provided by Global Competence Centers (GCCs), which move innovation and high-value activities from cost-saving institutions. centers and are expanding into tier-II cities.For both, near-term prospects look bright.
In fact, in the case of the latter, India's commercial realty landscape in satellite and tier II cities is undergoing a significant transformation due to infrastructure development in the form of road networks and metro connectivity, strategic urban planning and relatively low cost of living. Is.
The services sector maintained expansion at pre-pandemic trend rates, and was led by finance, insurance, real estate and business services.
Although agriculture and allied activities remained slow, there is considerable optimism about better performance in 2024-25.
The India Meteorological Department (IMD) got it right.The bulletin said timely arrival of monsoon rains bodes well for kharif sowing and replenishment of reservoirs, thereby achieving the food grain target of 340 million tonnes for the 2024-25 crop year (July-June) .
