India's GDP grows at 13.5% in April-June quarter of FY23, lower than RBI estimate
India Today
India's GDP grew at 13.5 per cent in the April-June quarter of the financial year 2022-23, according to the data released by the NSO.
India's gross domestic product (GDP) grew at 13.5 per cent in the April-June quarter of the financial year 2022-23, according to the data released by the National Statistical Office (NSO) on Wednesday.
According to the NSO data, the real GDP in Q1 2022-23 is estimated to attain a level of Rs 36.85 lakh crore as against Rs 32.46 lakh crore in Q1 2021-22.
However, the GDP data missed the estimates of the Reserve Bank of India (RBI). In its monetary policy meeting earlier this month, the RBI had pegged the growth rate to be around 16.2 per cent in the April-June quarter.
In the April-June quarter of 2021, the GDP growth rate was 20.1 per cent.
The Nominal GDP or the GDP at current prices in Q1 2022-23 is estimated at Rs 64.95 lakh crore as against Rs 51.27 lakh crore in Q1 2021-22, showing a growth of 26.7 per cent as compared to 32.4 per cent in Q1 2021-22.
Data indicates that the agriculture sector saw a growth of 4.5 per cent versus 2.2 per cent on a year-on-year basis.
The manufacturing sector grew at 4.8 per cent as compared to 4.9 per cent in the same quarter a year ago.
