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India鈥檚 second-quarter GDP growth rate of 5.4 per cent was described as disappointing but not alarming, with Chief Economic Advisor (CEA) V Anantha Nageswaran pointing out several bright spots in the economy. He characterised the latest GDP figures as a one-off occurrence rather than the beginning of a trend, noting the challenging global environment affecting domestic manufacturing. Nageswaran remarked that economic growth is expected to pick up in the second half of the financial year, though he cautioned that the global context differs from the synchronised global growth seen in the early 2000s. He highlighted fragile geopolitical conditions as ongoing challenges impacting domestic inflation, supply chains, and capital flows. Despite these headwinds, record kharif foodgrain production and promising rabi crop prospects were said to bode well for rural demand and farm incomes. The CEA emphasised the economy鈥檚 resilience, driven by robust demand and strong activity in the manufacturing and service sectors. The CEA also noted uncertainties in the export sector, citing potential policy developments, monetary policy risks in advanced economies, and the volatile global trade environment. However, Nageswaran expressed optimism about the economic benefits of low global crude oil prices, which support economic activity and price stability.