Gross domestic product (GDP) growth reached 5.4% in Quarter2 (Q2)
After growing 6.7% in Q1 and 8.1% in Q2 of 2023–2024, India's real GDP growth for Q2 (July–September, 2024) dropped to 5.4%.
It has been released by National Statistics Office (NSO) on November 29, 2024.
From 6.8% in Q1 of 2024–25 and 7.7% in the same quarter of 2023–24, Gross Value Added (GV(A) growth slowed to 5.8% in Q2.
Agriculture, Livestock, Forestry, and Fishing GVA increased by 3.5%, while mining and quarrying GVA contracted by 0.1%. Manufacturing growth slowed to 2.2%.
RBI and Ministry projections for 2024-25 GDP growth are 7% Q2 and 7.2% full year.
This area of the services sector expanded 9.2% in Q2 compared to 7.7% in the same period the previous year.
Q2 GDP growth was 1.5 percentage points slower than Q1 due to a combined reduction in gross fixed capital formation and private consumption.
Science and Technology
ISRO reports that Gaganyatris have completed their initial training
Axiom-4 (Ax-4) mission to International Space Station (ISS) has chosen 2 Indian astronauts, Shubhanshu and Prasanth Nair, as group captains.
On November 29, 2024, ISRO declared that the astronauts have finished the first training phase.
Indian Space Research Organization (ISRO) and National Aeronautics and Space Administration (NASA) collaborated on the Ax-4 project.
The first week of August 2024 marked the start of the two Gaganyatris' training in the United States.
The training phase involved orientation tours of mission-related ground facilities, SpaceX suit-fit checks for comfort and mobility etc.
By supporting cooperative scientific investigations on ISS, Ax-4 mission seeks to strengthen India's partnership with NASA.
State Affairs
Delhi Government extended its EV policy until March 2025, reviving subsidies and tax exemptions
Delhi Government extends EV policy until March 2025, reintroducing subsidies and tax benefits for EVs purchased after January 1, 2024, on November 29, 2024.
It is to promote clean transportation and combat air pollution.
Government has reinstated purchase subsidies for electric vehicles and provided full exemption from road tax and registration fees for EVs.
Delhi's EV registrations surged from 4% in 2019-20 to 12% in 2024, marking the highest adoption rate in the country.
The extension aligns with Delhi's efforts to reduce air pollution, promoting zero-emission vehicles to support their clean air goals.
The policy emphasizes the development of robust charging infrastructure to make EV adoption more practical for residents.
