Breaking News
1. AI breakthrough in breast cancer detection: New study claims over 17% improvement in screening accuracy      2. Inflows into equity mutual funds jump 14.5% to Rs 41,156 crore in December: AMFI      3. ONGC expects additional revenue of up to $10.3 billion from BP’s intervention in Mumbai High field      4. Pravasi Bharatiya Divas LIVE: India will fulfill world’s demand for skilled talent, says PM Modi      5. India-Taliban talks: Region in flux and 5 reasons behind Delhi’s decision to engage Kabul      6. California wildfire: Burning Los Angeles looks ‘apocalyptic’ in scary visuals      7. Tirupati stampede: Andhra Pradesh government announces ex-gratia of ₹25 lakh to next of kin of deceased      8. Massive fire at Varanasi railway station parking, over 200 vehicles gutted      9. First Sambhal, Then Ajmer: Ex-CJI Chandrachud Under Fire For ‘Opening Floodgates’ Of Survey Pleas      10. Chennai Airport Shut, Trains Hit As Cyclone Fengal Intensifies      11. 2nd Hindu Priest Arrested In Bangladesh Amid Protests: ISKCON Member      12. Man climbs mobile tower in Kota, threatens suicide over his tractor seizure      13. Body of 2-year-old, his grandmother recovered from river in Manipur      14. Bodies of six abducted in Jiribam found; Kerala CM and UDF leaders argue over BJP defection      15. Several flights, trains disrupted as Delhi covered in smog, visibility down      16. Delhi air quality: AQI at this Delhi station above 1500      17. Pawan Kalyan condemns deaths of 2 Hindu girls in Pakistan who faced ‘atrocities’      18. India not to travel to Pakistan for Champions Trophy, wants its matches in Dubai      19. India not to travel to Pakistan for Champions Trophy, wants its matches in Dubai      20. Samosas, cakes meant for Himachal Pradesh CM Sukhu served to his security staff instead; CID probe on     
  1. Home
  2. News

India’s GDP Surges High: Records 7.2% in FY23, 6.1% in March Quarter

  • Posted on June 1, 2023
  • News
  • By Stiti pragnya padhy
  • 323 Views
May 31 indicates a 6.1% increase


The provisional national income data declared by the National Statistical Office (NSO) on May 31 indicates a 6.1% increase in India's GDP in the January-March 2023 quarter.

In an official statement released on Wednesday, The National Statistical Office (NSO) stated that India's GDP grew at a rate of 7.2% in the fiscal year 2022-23 in comparison to 9.1% in the previous financial year 2021-22. According to their estimation, the Gross Value Added (GVA) has increased by 7% in 2022-23, as opposed to 8.8% in 2021-22. However, the growth of manufacturing GVA has dropped at a large rate, from 11.1% in the previous year to 1.3% in the current year.

NSO's data predicts that the real GDP for the year 2022-23
GDP data: Indian economy grows at 6.1% in Q4, FY23 growth better-than-expected at 7.2%


NSO's data predicts that the real GDP for the year 2022-23 might reach the level of Rs 160.06 lakh crore. This amount is much higher in comparison to the first revised estimates of GDP for the year 2021-22, which was estimated at Rs 149.26 lakh crore. According to the Ministry of Statistics and Programme Implementation (MoSPI), India's nominal GDP, which is GDP at current prices, shot up by 16.1% in the financial year 2022-23.

Furthermore, they also reported a growth of 10.4% in India's GDP at current prices for the March quarter. Simultaneously, India's manufacturing sector witnessed a significant year-on-year growth of 4.5%, in contrast to a contraction of 1.1% in the last quarter. The country's agricultural output also rose by 5.5% during the same period in the same period as compared to a growth of 3.7% in the corresponding period.

The provisional national income data declared by the National Statistical Office (NSO) on May 31 indicates a 6.1% increase in India's GDP in the January-March 2023 quarter.
India's Q4FY22 GDP grows to 6.1%: Govt data

In addition to these, the NSO has also made changes to the GDP and GVA numbers. While they have lowered the numbers for the first half of the financial year which now stands at 13.1%, there is an increase in the figures for Q3. The rate of growth in Q2 is estimated at 6.2%, followed by 4.5% growth in Q3, as compared to the earlier estimate of 4.4% in February.

For more updates keep visiting our website www.topstoriesworld.com where we provide unbiased, true and top stories of the world.

Author
No Image
Stiti pragnya padhy

You May Also Like