New Delhi [India], November 8 : Going ahead, the government will release GDP figures at 4 pm instead of the earlier convention of 5.30 pm, the Ministry of Statistics and Programme Implementation said in a statement Friday.
As per the current practice, the press releases of GDP are scheduled at 5:30 pm on the specified release dates. However, new timing is decided upon to provide the users, media, and public more time on the day of release to access GDP data.
"The new release time aligns with the closing hours of major financial markets in India, ensuring that GDP data dissemination does not interfere with active trading. This adjustment also adheres to MoSPI's commitment to transparency and accessibility in data dissemination," the statement added.
The next press release of GDP estimates for the second Quarter (July - September) of financial year 2024-25 will be available on November 29, 2024, at 4:00 PM on the website of Press Information Bureau and the Ministry's official website (https://www.mospi.gov.in).
Indian economy grew 6.7 per cent in the April-June quarter, lower than RBI's 7.1 per cent forecast.
The RBI has pegged India's 2024-25 GDP growth at 7.2 per cent. IMF and World have pegged it at 7.0 per cent. Many global rating agencies and multilateral organizations have also revised their growth forecasts for India upwards.
The Economic Survey tabled in Parliament earlier this year "conservatively" projected India's real GDP growth at 6.5-7 per cent for 2024-25, acknowledging that market expectations are higher. Real GDP growth is the reported economic growth adjusted for inflation.
India's GDP grew by an impressive 8.2 per cent during the financial year 2023-24, continuing to be the fastest-growing major economy. The economy grew by 7.2 per cent in 2022-23 and 8.7 per cent in 2021-22.
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