[1/2]People carry vegetables at a wholesale market in Ahmedabad, India, June 8, 2023. REUTERS/Amit Dave/File Photo Acquire Licensing Rights
- Data due at 1200 GMT, Aug 31
BENGALURU, Aug 25 (Reuters) – India economic growth likely accelerated to 7.7% in the April-June quarter, the fastest annual pace in a year, on robust service sector growth, strong demand and increased government capital expenditure, a Reuters poll found.
All but two of 51 economists surveyed between Aug. 18 and Aug. 24 expected gross domestic product (GDP) growth to beat the January-March quarter’s 6.1% rate, with forecasts ranging from 5.6% to 9.1% range.
“Economic activity in Q1 FY-2024 was boosted by a continued catch-up in services demand and improved investment activity, particularly a welcome front-loading in government capital expenditure,” noted Aditi Nayar, chief economist at ICRA.
Growth in the service sector,…
