The Indian economy has grown by 4.4% in the October to December quarter, down from a growth of 6.3 per cent in the second quarter.
“GDP at Constant (2011-12) Prices in Q3 2022-23 is estimated at ₹40.19 lakh crore, as against ₹38.51 lakh crore in Q3 2021-22, showing a growth of 4.4 percent. GDP at Current Prices in Q3 2022-23 is estimated at ₹69.38 lakh crore, as against ₹62.39 lakh crore in Q3 2021-22, showing a growth of 11.2 percent,” said the government in its press release.
The GDP growth rate moderated to 6.3 per cent in the preceding quarter after double-digit expansion in the Q1 of the current financial year.
In the April-June quarter, GDP growth stood at 13.5 per cent.
The second advance estimate released by the government on February 28 has estimated India’s full-year GDP growth at 7 per cent for this year as as compared to 9.1 per cent in 2021-22.
“Real GDP or GDP at Constant (2011-12) Prices in the year 2022-23 is estimated at ₹159.71 lakh crore, as against the First Revised Estimates of GDP for the year 2021-22 of ₹149.26 lakh crore. The growth in real GDP during 2022-23 is estimated at 7.0 per cent as compared to 9.1 per cent in 2021-22,” the release added.
Nominal GDP or GDP at Current Prices in FY23 is estimated to attain a level of ₹272.04 lakh crore as compared to ₹234.71 lakh crore in FY22, showing a growth rate of 15.9 per cent, the ministry said.
India’s fiscal deficit for April to January of the current fiscal year came in at ₹11.91 lakh crore, or 67.8 per cent of revised annual estimates, according to government data.
(This is a developing story, please check for more updates)
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