GDP Growth Rate Slows For Second Quarter, Q3 Growth At 4.4%

India's economy had grown 6.3% year-on-year in the September quarter.

India's GDP (gross domestic product) may grow 7 per cent for financial year 2022-23, according to the second advance estimates released by the government today. The Q3 growth rate for 2022-23 slowed to 4.4 per cent from 6.3 per cent in July-September, according to the data released.

India's economy had grown 6.3 per cent year-on-year in the September quarter.

As per the first advance estimates released in January, the GDP growth for 2022-23 was pegged at 7 per cent.

The key difference between the two estimates is that the SAEs (second advance estimates) are calculated by incorporating the GDP data for Q3 (October to December).