BackQ3 GDP: India's economy growth moderates to 4.4%
The second advance estimate released by the government on February 28 has estimated India's full-year GDP growth at 7 per cent for this year
PremiumThe Indian economy has grown by 4.4% in the October to December quarter, down from a growth of 6.3 per cent in the second quarter.
“GDP at Constant (2011-12) Prices in Q3 2022-23 is estimated at ₹40.19 lakh crore, as against ₹38.51 lakh crore in Q3 2021-22, showing a growth of 4.4 percent. GDP at Current Prices in Q3 2022-23 is estimated at ₹69.38 lakh crore, as against ₹62.39 lakh crore in Q3 2021-22, showing a growth of 11.2 percent," said the government in its press release.
The GDP growth rate moderated to 6.3 per cent in the preceding quarter after double-digit expansion in the Q1 of the current financial year.
In the April-June quarter, GDP growth stood at 13.5 per cent.
The second advance estimate released by the government on February 28 has estimated India's full-year GDP growth at 7 per cent for this year as as compared to 9.1 per cent in 2021-22.
“Real GDP or GDP at Constant (2011-12) Prices in the year 2022-23 is estimated at ₹159.71 lakh crore, as against the First Revised Estimates of GDP for the year 2021-22 of ₹149.26 lakh crore. The growth in real GDP during 2022-23 is estimated at 7.0 per cent as compared to 9.1 per cent in 2021-22," the release added.
The nominal GDP growth is pegged at 15.9 percent in the second advance estimate, which is up from 15.4 percent in the first advance estimate.
“Nominal GDP or GDP at Current Prices in FY23 is estimated to attain a level of ₹272.04 lakh crore as compared to ₹234.71 lakh crore in FY22, showing a growth rate of 15.9 per cent," the ministry said.
The RBI had projected the real GDP growth for 2022-23 at 6.8 percent, with the third quarter and fourth quarter growth at 4.4 percent and 4.2 percent, respectively.
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