Fastest GDP growth in a year, reached 7.8%


New Delhi (Best Hindu News)-Despite the uncertainties of the global economy, the Gross Domestic Product (GDP) (production of goods and services) in India in the first quarter of the year 2023-24 on the support of strong domestic demand and investment is expected to increase from the same period a year ago. In comparison, a robust growth of 7.8 per cent was registered. Thus, India has overtaken China’s GDP growth in the April-June 2023 quarter to remain among the world’s fastest growing large economies. China’s growth for the quarter under review was 6.3 per cent. A release issued by the Ministry of Statistics and Program Implementation on Thursday evening said, “The real Gross Domestic Product (GDP) at constant prices (base year 2011-12) in the first quarter of 2023-24 at the level of Rs 40.37 lakh crore It is estimated to be Rs. 37.44 lakh crore in the first quarter of 2022-23. ,

In this way, it shows a growth of 7.8 percent in GDP on an annual basis. The GDP growth in the first quarter of 2022-23 was 13.1 percent. The low comparative base in last year’s figures also had an impact. Experts said the first quarter GDP data was in line with market estimates but expressed some disappointment over the lower manufacturing sector growth figure despite a fall in commodity prices. The manufacturing sector has shown a growth of 4.7 per cent in the first quarter.

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