The Report covers the below expected GDP figure recorded in Q2FY25 and attributes it to a trilemma – of slowing urban consumption, combined with monsoon related industrial interruptions and moribund government spending. It notes in particular the slowdown in industry GVA, even as services and agriculture performed relatively better. It concludes that a brighter H2 is possible, keeping open the question of whether the slowdown seen in H1 is cyclical or structural.
