The country's GDP expanded 7.8 per cent in the quarter ended June, in line with economists’ expectations, according to official data released on Thursday. While the reading was better than a growth rate of 6.1 per cent in the January-March period, it was in stark contrast to an expansion of 13.1 per cent in the quarter ended June 2022.

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Economists in a Zee Business poll had estimated the quarterly GDP growth rate for the first quarter of the current financial year to come in at exactly 7.8 per cent.

The GDP reading for the June quarter was the best since April–June 2022, driven by double-digit growth in the country's buoyant services sector, according to an official statement. 

The government retained its GDP growth projection for the current financial year at 6.4 per cent.

Chief Economic Adviser V Anantha Nageswaran said that the government does not expect inflation to get out of control. He also said the government expects further expansion in the construction sector in the coming years.

Here's how the economy has fared in the past 17 quarters—the April-June period included:

When India’s GDP briefly exceeded China’s