GDP exceeds govt expectations
The real GDP or GDP at constant (2011-12) prices for 2022-23 has touched 7.2 per cent, exceeding the 7 per cent estimated by the government. However, it is less than the 9.1 per cent growth in 2021-22.
According to official data released on Wednesday, India’s gross domestic product (GDP) grew by 6.1 per cent in the January-March quarter of the financial year (FY) 2022-23, pushing the annual growth rate to 7.2 per cent on account of better performance by the agriculture, manufacturing, mining and construction sectors.
This is the real GDP or GDP at constant (2011-12) prices. The growth rate number is being considered a surprise by experts as the government had predicted a 7 per cent growth for the year.
However, it is less than the growth in 2021-22, which was 9.1 per cent.
As for absolute figures, the real GDP or GDP at constant (2011-12) prices in FY 2022-23 is estimated to touch Rs 160.06 lakh crore, as against the first revised estimates of GDP of Rs 149.26 lakh crore.
The nominal GDP or GDP at current prices in 2022-23 is estimated to attain a level of Rs 272.41 lakh crore, as against Rs 234.71 lakh crore in 2021-22, which will lead to a growth rate of 16.1 per cent.
