GDP
India's GDP grows 6.3 pc in 2nd qtr in line with RBI's projection
New Delhi/IBNS: India’s Gross Domestic Product (GDP) grew at 6.3 percent in the Q2FY23 year-on-year, according to data released by the government on Wednesday.
In Q2FY22, the GDP growth rate was 8.4 percent.
"Real GDP or GDP at Constant (2011-12) Prices in Q2 2022-23 is estimated at Rs 38.17 trillion, as against Rs 35.89 trillion in Q2 2021-22, showing a growth of 6.3 percent as compared to 8.4 percent in Q2 2021-22," the Ministry Of Statistics and Programme Implementation said.
Real GDP measures the value of all goods and services produced by an economy in a given period without consideration of inflation.
"Nominal GDP or GDP at Current Prices in Q2 2022-23 is estimated at Rs 65.31 trillion as against Rs 56.20 trillion in Q2 2021-22, showing a growth of 16.2 percent as compared to 19 percent in Q2 2021-22," it added.
The nominal growth rate measures a nation's annual production of goods and services using actual market prices or values.
In the first half of the current financial year, the GDP growth rate stood at 9.7 percent whereas it was 13.7 percent during the same period last year.
During the second quarter of FY23, the manufacturing sector grew at 4.3 percent and the mining sector at 2.8 percent, recording a fall in growth.
In its monetary policy announcement on September 30, RBI projected real GDP growth for 2022-23 at 7 percent and said there would be a 6.3 percent growth in July-September, 4.6 percent in October-December, and 4.6 percent in January-March, and risks broadly balanced.
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