India’s economy grew 7.8 per cent in the March quarter, pushing up the annual growth rate to 8.2 per cent, according to official data released on Friday.
Growth in the January-March period was lower than the 8.6 per cent expansion in the December quarter.
“Real GDP or GDP at Constant Prices is estimated to attain a level of ₹173.82 lakh crore in the year 2023-24, against the First Revised Estimates (FRE) of GDP for the year 2022-23 of ₹160.71 lakh crore. The growth rate in Real GDP during 2023-24 is estimated at 8.2 per cent as compared to 7.0 per cent in 2022-23. Nominal GDP or GDP at Current Prices is estimated to attain a level of ₹295.36 lakh crore in the year 2023-24, against ₹269.50 lakh crore in 2022-23, showing a growth rate of 9.6 per cent,” the government said in a press release.
The gross domestic product (GDP) had expanded 6.2 per cent in the January-March period of the 2022-23 fiscal year, according to data released by the National Statistical Office (NSO).
As per the data, the economy expanded 8.2 per cent in 2023-24 against a 7 per cent growth in 2022-23.
The NSO in its second advance estimate of national accounts had pegged the country’s growth at 7.7 per cent for 2023-24.
China has registered an economic growth of 5.3 per cent in the first three months of 2024.
In Q4 FY24, the gross domestic product (GDP) grew by 7.8 per cent against 6.2 per cent in year-ago period.
Key infra growth
Eight key infrastructure sectors’ growth rose to 6.2 per cent in April on healthy expansion in the production of natural gas, refinery products and electricity, according to official data released on Friday.
The production of eight sectors grew by 6 per cent in March.
