April-June 2024 saw 6.7% GDP growth, down from 7.8% last quarter, reflecting some deceleration
Election-year constraints led to lower government expenditure, affecting GDP growth
Monsoon impacts agriculture; excess rain or delays influence crop yields, but a good monsoon is expected
Private final consumption expenditure increased, suggesting strength in domestic demand despite slower govt spending
Concerns about growth slowdown may be premature; recent high-frequency data show mixed signals but room for optimism
RBI likely to prioritise inflation control while monitoring growth and consumer confidence trends