India's Resilient Growth Amidst Slower Quarter

India's economic growth has decelerated in the September quarter but maintained an overall target of 6.5-7% for the fiscal year. Despite challenges in goods and services, indicators like e-way bills show no major threats to this projection. Inflation remains manageable, though food prices are a concern.

Despite a slowdown in India's economic growth during the September quarter, Economic Affairs Secretary Ajay Seth remains optimistic about achieving the projected 6.5-7% growth for the entire fiscal year.

Seth pointed out that while certain goods and services have not matched last year's growth during the second quarter, metrics like e-way bills and e-invoices do not suggest any significant threats to achieving the full-year growth projection outlined in the Economic Survey.

While inflation concerns persist due to rising food prices, other inflationary pressures appear controlled. Government capital expenditure is expected to undershoot the initial Rs 11.11 lakh crore target but should exceed last year's Rs 9.5 lakh crore spending.

(With inputs from agencies.)