GDP grows 7.8% in March quarter, 8.2% in FY24
The Hindu
India’s economy grew 7.8% in the March quarter, pushing up the annual growth rate to 8.2%, according to official data
India's economy grew 7.8% in the March quarter, pushing up the annual growth rate to 8.2%, according to official data released on May 31.
Growth in the January-March period was lower than the 8.6% expansion in the December quarter.
The gross domestic product (GDP) had expanded 6.2% 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% in 2023-24 against a 7% growth in 2022-23.
The NSO in its second advance estimate of national accounts had pegged the country's growth at 7.7% for 2023-24.
China has registered an economic growth of 5.3%in the first three months of 2024.
India’s manufacturing sector underperforms compared to China and South Korea, partly due to public sector wages that raise costs and reduce competitiveness.
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