The growth rate of the Indian economy is estimated to be 7.1 percent in the April-June period of the financial year 2024-25. The reason for this is the strong performance of the agricultural sector. This information has been given in the SBI Research report.

This estimate is at par with the estimates released by the RBI for the financial year 2024-25.

According to the central bank, the GDP of the Indian economy is 7.1 percent in the first quarter of FY 2024-25, 7.2 percent in the second quarter, 7.3 percent in the third quarter and 7.2 percent in the fourth quarter.

The latest Ecowrap report by SBI Research states that the Indian economy remains resilient despite disruptions in supply chains.

The report said that due to better than normal monsoon at the national level, the growth rate of the agriculture sector in the financial year 2024-25 can be 4.5 to 5 percent, which is 0.3 percent more than the RBI estimate. After a weak start in June, the southwest monsoon gained momentum from the beginning of July and it remains better than normal.

The report said that the global economic outlook still remains uncertain and however, due to low inflation, there will be less tightening of monetary policies at the international level.