Government decided to change the time to release GDP data from at 4 pm instead of 5.30 pm; Know why
GDP Data: The government will now release GDP data on fixed days at 4 pm instead of 5.30 pm. As per the current practice, GDP-related data is released at 5:30 pm on the scheduled dates. What is the reason behind this decision? Let's know
Instead of releasing GDP data at 5:30 p.m., the government will now do it on fixed days at 4 p.m. In a statement released on Friday, the Ministry of Statistics and Program Implementation provided this information. As per the current practice, GDP-related information is released at 5:30 pm on the scheduled dates.
According to the statement, the new time has been fixed to provide more time on the day of release to make it easy for users, media, and the public to access GDP data.
The statement said, "The new release timing is around the closing time of major financial markets in India. However, this will ensure that GDP data dissemination does not disrupt active trading. This change in the timing of the release of GDP data reflects the Ministry's commitment to create transparency and accessibility. The next press release of GDP estimates for the second quarter (July-September) of FY 2024-25 will be available on the website of the Press Information Bureau and the official website of the Ministry https://www.mospi.gov.in on November 29, 2024, at 4:00 pm.
The economy grew 6.7 percent in the April-June quarter, slower than the forecast by the RBI for a growth rate of 7.1 percent. For this year, it projected India's GDP growth to be at 7.2 percent and for the following fiscal at 7.0 percent. Similarly, many Global Rating Agencies and Multilateral Organisations have revised their growth forecasts for India.
