Aug 30 (Reuters) - India's economy grew by 6.7% in the April-June quarter from a year earlier, compared with 7.8% growth in the previous quarter, government data showed on Friday.

A Reuters poll had predicted a 6.9% expansion in India's gross domestic product for the quarter ending June 30.

COMMENTARY

SWATI ARORA, ECONOMIST, HDFC BANK, MUMBAI

"Slowdown in GDP emerged as expected. On the positive side, upbeat private consumption expenditure reflects recovery in rural demand as gauged by high frequency indicators of two wheelers and tractor sales, and FMCG sales data."

"For the coming quarters, we expect GDP growth to range between 6.5% and 7.0%."

TERESA JOHN, LEAD ECONOMIST, NIRMAL BANG, MUMBAI

"Growth is seeing some cyclical moderation, but both GVA (Gross Value Added) and GDP growth were better than our expectation."

"Growth is now only marginally below the long-term trend. If this trend sustains for one more quarter, we see downside risks to the RBI's estimate of 7.2% GDP growth."

GARIMA KAPOOR, ECONOMIST, INSTITUTIONAL EQUITIES, ELARA SECURITIES, MUMBAI

"The disruption due to elections and heat wave led to moderation in services growth."

"The risk of government spending undershooting the Budget estimates this year, amid rural urban divide in consumption demand, will weigh on full-year GDP estimate."

UPASNA BHARDWAJ, CHIEF ECONOMIST, KOTAK MAHINDRA BANK, MUMBAI

"While the Q1 FY25 GDP growth has come in softer than expectations, the GVA (Gross Value Added) has remained firm, with non-farm growth holding up well."

"We retain our GDP growth expectations of 6.9% in FY 2025, aided largely by rural demand and government spending, while closely watching the likely fatigue in urban demand, private capex and the pace of global slowdown."

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https://www.reuters.com/world/india/view-indias-economy-grows-67-yy-april-june-quarter-2024-08-30/