HomeIndian EconomyIndian Economy surprises everyone !! GDP Grows At 7.2 Per Cent In...

Indian Economy surprises everyone !! GDP Grows At 7.2 Per Cent In FY23 After Q4 Growth Accelerates To 6.1 Per Cent, exceeding expectations

Source : Swarajya

Indian Economy surprises everyone !! GDP Grows At 7.2 Per Cent In FY23 After Q4 Growth Accelerates To 6.1 Per Cent, exceeding expectations

Indian Economy surprises everyone !! GDP Grows At 7.2 Per Cent In FY23 After Q4 Growth Accelerates To 6.1 Per Cent, exceeding expectations

India’s gross domestic product (GDP) grew 7.2 per cent during the fiscal year 2022-2023 (FY23), surpassing the estimate of 7 per cent projected by the Reserve Bank of India (RBI).

The latest data released by the National Statistical Office reveals that India’s GDP growth gained momentum in the January-March quarter, with an impressive expansion of 6.1 per cent.

This marked a significant improvement compared to the previous quarter’s growth rate of 4.4 per cent. Notably, the growth rate during this period has also outperformed earlier estimates, as the RBI had initially projected a growth rate of 5.1 per cent.

In fiscal FY23, the economy grew at 13.1 percent, 6.2 percent in Q1, Q2 respectively, on an annual basis.

“Real GDP or GDP at Constant (2011-12) Prices in the year 2022-23 is estimated to attain a level of Rs 160.06 lakh crore, as against the First Revised Estimates of GDP for the year 2021-22 of Rs 149.26 lakh crore. The growth in real GDP during 2022-23 is estimated at 7.2 per cent as compared to 9.1 per cent in 2021-22,” the statistics ministry said.

The agricultural sector in India experienced a growth rate of 5.5 percent during the fiscal year. The mining sector witnessed substantial expansion, recording a remarkable growth of 16.3 percent. The construction sector also performed well, registering a growth rate of 10.4 percent.

Last week, RBI Governor Shaktikanta Das suggested that the economic growth number for FY23 may hold a ‘positive surprise’.

Earlier, the RBI said that the GDP growth rate could be 7 per cent. “All the high-frequency indicators maintained their momentum in the fourth quarter. Therefore, we should not be surprised if the growth is slightly more than 7 per cent for FY23,” he had said.

Indian Economy surprises everyone !! GDP Grows At 7.2 Per Cent In FY23 After Q4 Growth Accelerates To 6.1 Per Cent, exceeding expectations Indian Economy surprises everyone !! GDP Grows At 7.2 Per Cent In FY23 After Q4 Growth Accelerates To 6.1 Per Cent, exceeding expectations Indian Economy surprises everyone !! GDP Grows At 7.2 Per Cent In FY23 After Q4 Growth Accelerates To 6.1 Per Cent, exceeding expectations IgMp

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Aatmanirbhar Bharat

All

AMCA 5th Generation Stealth Fighter Updates

Most Popular

Recent Comments

Archive Months

Miscellanous

Indian Navy to get counter-drone systems for warships to combat threats from Pakistan, China

Source : CNBC TV 18 Indian Navy to get counter-drone systems for warships to combat threats from Pakistan, China The Indian Navy has decided to spend...

Counter Cyberattack: Indian hackers retaliates and paralyzes 10 Pakistani embassy website in response to Pak cyber attacks on Indian websites

Source : Times Now Counter Cyberattack: Indian hackers retaliates and paralyzes 10 Pakistani embassy website in response to Pak cyber attacks on Indian websites Just as...

A Naval Quad won’t fight India’s Himalayan war against China

Source : MoneycontrolRepresentative ImageOn June 23, the United States and the Indian navies along with the Indian Air Force held a naval exercise in...

US to spend ‘Billions of Dollars’ to defend Hawaii through newly signed NDAA 2033 amid Chinese threats & muscle flexing

Source : The EurAsian TimesUS Naval Base in Pearl Harbor, HawaiiTo counterbalance China’s attempts at expanding influence in the Pacific, the US is investing...
Visits
error: Content is protected !!