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The government will release the first gross domestic product (GDP) advance estimates for FY25 on Tuesday. India's GDP expanded by a seven-quarter low of 5.4% in July-September, triggering a spate of corrections in estimates for FY25. Gross value added (GVA) growth also slowed to 5.6% in the September quarter, from 6.8% in the preceding three months.
«While overall economic activity did lose momentum in the second quarter, particularly in August and September, most high-frequency indicators suggest that growth has bottomed out,» said Aastha Gudwani, India chief economist at Barclays. Bank of Baroda chief economist Madan Sabnavis echoed the optimism, suggesting that indicators be viewed on a cumulative basis-this shows upward movement.
Unified Payments Interface (UPI) transactions averaged Rs 22.8 lakh crore a month in the third quarter, higher than Rs 20.6 lakh crore in the second quarter, according to data from the National Payments Corporation of India (NPCI).
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