Reports of various agencies claim that it is difficult to maintain the fast growth rate of the first quarter, know the reason

The country's economic growth rate has been 7.8 percent in the first quarter, but it will be difficult to maintain this growth rate in the subsequent three quarters. The reports released by several well-known economic agencies on Friday show that most parts of the country may see the effect of abnormal monsoons.

The growth rate for the year 2023-24 can be 6 percent to 6.5 percent. Major rating agency Moody's has reduced the annual growth rate estimate for the current financial year from 6.5 percent to 6.1 percent. It has also talked about rising inflation due to less-than-normal rainfall. Last month, while reviewing the monetary policy, RBI also gave some similar indications.

RBI has said to reduce it to 8 percent in the first quarter, 6.5 percent in the second quarter, 6 percent in the third quarter, and 5.7 percent in the last quarter of January-March. A Crisil research report said that domestic demand showed signs of recovery in the first quarter, but a sub-normal monsoon has become the biggest threat to it. It can bring down the economic growth. Along with this, the effect of the 2.50 percent increase in interest rates last year will also be visible. A positive sign is coming from the increase in government expenditure.

Despite this, Crisil has estimated the economic growth rate to be only 6 percent during the current financial year. SBI's Ecowrap report has also expressed concern about the effect of El Nino. According to this, 33 percent less rainfall than normal in the month of August is a cause of more concern, the effect of which will be visible in the coming days. Due to this, the rate of inflation can increase by up to 3.2 percent.