India's GDP rose by 6.1% in the January-March quarter, compared to 4.5% in the previous quarter, reports Financial Express.
Activities such as manufacturing, recovery of private investment, and domestic consumption are driving this, shows government data. The major sectors that witnessed growth include manufacturing, construction, and agriculture, among others, according to another report by Business Standard.
Last week, the Reserve Bank of India's (RBI) governor Shaktikanta Das had projected that this year's GDP growth could exceed 7%. Economic activity continued its momentum in Q4, he added.
In March, there was a rise in consumption thanks to better economic conditions and higher household income, says RBI's consumer confidence survey.
Key Highlights Of GDP Data...... 💥 💥
🎉 Real GDP growth is estimated to be 7.2% in 2022–23, down from 9.1% in 2021–22.
🎉 Q4 GDP is expected to be 43.62 lakh crore, up from 41.12 lakh crore in Q4 2021–22, representing a 6.1% increase.
🎉 Growth in India's manufacturing sector slowed sharply in FY23, falling to 1.3% from 11.1% the previous fiscal year.
🎉 Agriculture, forestry, and fishery gross value added (GVA) increased by 4% in FY23, up from 3.5% in FY22.
🎉 Financial, real estate, and professional services recorded a growth of 7.1% versus 4.7% in FY22.
🎉 The construction sector also declined to 10% growth in FY23, compared to 14.8% in FY22.
🎉 In FY23, India's per capita national income (net) climbs to 98,374 crore, up from 92,583 crore in FY22.
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