- Real GDP in Q1 FY24 witnessed a growth of 7.8% vs a growth of 6.1% the previous quarter. Supply-side GVA too, witnessed a growth of 7.8% vs 6.5% the previous quarter.
- Credit offtake increased by 19.8% in Jul’23 vs 16.3% in Jun’23 on account of the HDFC and HDFC bank merger. Excluding the merger’s impact, credit offtake grew at 14.8% as per RBI data. Credit growth was primarily driven by retail loans, which rose 31.7% in Jul’23 vs 20.9% in Jun’23 and witnessed a growth of 51.5% in Jul’23 on a month-on-month basis. course of Jul’23.
- After rising to a 15-month high at 7.4% in Jul’23 due to rising vegetable prices, CPI-led inflation fell to 6.8% in Aug’23 on account of food inflation falling to 9.2% from 10.6% the previous month. Majority of the overall CPI inflation is still driven by vegetable prices. CPI excluding vegetable prices stood at 5.5% in Aug’23.
- Overall industrial output grew 5.7% in Jul’23 compared to 3.8% the previous quarter, with core sector output growing 8% in Jul’23, compared to 5% the month before.
TruQuest is knowledge series launched by TruBoard Partners providing succinct updates and views on:
- Liquidity outlook
- India’s macro economic view
- Trends within the infrastructure, Real Estate and Renewable Energy sectors
- Impact analysis of new regulations and policies on lending and capital flow
Disclaimer
The data and analysis covered in this report of TruQuest has been compiled by TruBoard Pvt Ltd and its associates (TruBoard) based upon information available to the public and sources believed to be reliable. Though utmost care has been taken to ensure its accuracy, no representation or warranty, express or implied is made that it is accurate or complete. TruBoard has reviewed the data, so far as it includes current or historical information which is believed to be reliable, although its accuracy and completeness cannot be guaranteed. Information in certain instances consists of compilations and/or estimates representing TruBoard’s opinion based on statistical procedures, as TruBoard deems appropriate. Sources of information are not always under the control of TruBoard. TruBoard accepts no liability and will not be liable for any loss of damage arising directly or indirectly (including special, incidental, consequential, punitive or exemplary) from use of this data, howsoever arising, and including any loss, damage or expense arising from, but not limited to any defect, error, imperfection, fault, mistake or inaccuracy with this document, its content.