Rural demand rises but urban areas 'slow down'; will it impact GDP growth?

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Recent data also indicates a slowdown in corporate growth, with initial figures for the quarter ending September 2024 showing net profit growth for 197 companies slowing to 6.1 per cent (Rs 83,007 crore) from 27.4 per cent (Rs 78,224 crore) a year earlier.

Urban demand appears to have plateaued due to high food prices, slowdown in credit growth, and other reasons.

At an event hosted by the Peterson Institute for International Economics, Das maintained an optimistic outlook, citing sustained domestic demand, lower input costs, and a supportive policy environment that drove growth in manufacturing and the services sector.

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Category: BusinessFinance

Markets: India

Topics: RBI inflation Private investment India economy Consumer demand Food inflation India economic outlook Corporate earnings Growth indicators Tata Consumer Products Urban demand Financial review Economic slowdown Government spending Credit growth FMCG sector India growth 2024 Festive season demand Indian GDP Nestle India Rural demand

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News Sentiment: Neutral

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Article Type: News Report

Published On: 2024-10-29 @ 12:24:48 (3 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 841 words

Reading Time: 5 minutes read

Sentences: 35 lines

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Copyright Owner: © Business Standard

News ID: 23321269

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