GDP growth reported 6.3 percent in the Q2 FY 2022-23
The National Statistics Office has released the GDP data for the second quarter (July-September) of the current financial year on Wednesday. India’s GDP for the July-September quarter 2022 has been recorded at 6.3 percent. The RBI in its last Monetary Policy Committee meeting had also estimated the growth rate of the economy at 6.3 per cent.
Decline compared to the previous quarter
The country’s gross domestic product (GDP) growth rate was recorded at 13.5 percent in the April-June quarter of the current financial year. It was 20.1 per cent during the same period last year. In the fourth quarter of the financial year 2021-22 (Q4FY22), a growth of only 4.1 percent was recorded in the country’s GDP.
According to data released by the National Statistical Office (NSO), the gross domestic product (GDP) grew by 8.4 per cent in the July-September quarter of 2021-22. Analysts had estimated that the Indian economy would halve to the 13.5 per cent growth rate recorded in the April-June quarter of the current financial year.
According to rating agency ICRA, the GDP was projected to grow by 6.5 per cent, while the State Bank of India in its report projected a growth rate of 5.8 per cent for July-September, 2022. China recorded an economic growth rate of 3.9 percent in July-September, 2022.
