GDP Growth Rate Increased By 13.5 Percent In The First Quarter Of 2022-23

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The growth rate of the country’s Gross Domestic Product (GDP) stood at 13.5 percent in the April-June quarter of the current financial year.

New Delhi: There is good news for the country on the economic front. The figures for the first quarter of the year 2022-23 have come out. India’s gross domestic product (GDP) in the first quarter stood at 13.5 percent. The agricultural growth rate has been recorded at 4.5 percent. According to the information, India’s Gross Domestic Product (GDP) figures for the April to June quarter of the current financial year have been released by the National Statistical Office (NSO).

According to the report of the National Statistics Office, India’s Gross Domestic Product (GDP) grew by 13.5 percent for the April-June quarter (Q1) of the current financial year 2022-23. 

In the same quarter of 2021-22, there was an increase of 20.1 percent in GDP. Economists had projected that India’s economy would grow in double digits in the first quarter of the current fiscal year 2022-23 (FY23), with real GDP growth seen in the range of 13-16.2 per cent. 

Growth is expected to be supported by a reduction in the impact of the Russo-Ukraine war and a spurt in services sector activity, as well as a base effect of 20.1 percent growth over the same period, he said.

In the monetary policy review this month, the Reserve Bank of India had projected the GDP growth rate to be around 16.2 percent in the first quarter of 2022-23. China’s growth rate in the April-June quarter of 2022 has been 0.4 percent.

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