AMN / NEW DELHI
India’s Gross Domestic Product (GDP) recorded a growth of 8.4 per cent in the third quarter of the current financial year, according to data released by the National Statistical Office on Thursday. The NSO, in its second advance estimate of national accounts, pegged the country’s growth at 7.6 per cent for 2023-24.
It had projected a growth of 7.3 per cent for the current fiscal in its first advance estimates released earlier in January 2024. The NSO also revised the GDP growth for 2022-23 to 7 per cent against the earlier estimate of 7.2 per cent.
Earlier, India Ratings and Research had predicted that the growth rate in the quarter would be 6.5 per cent. SBI Research said that the growth would be in the range of 6.7-6.9 per cent.
On the back of double-digit growth in manufacturing sector (11.6 per cent) sector, followed by a good growth rate of Construction sector (9.5 per cent), Real GDP grew by 8.4 per cent in Q3 of FY 2023-24.
During his RBI Monetary Policy Committee (MPC) announcement earlier this month, Governor Shaktikanta Das had said that headwinds from geopolitical tensions, volatility in international financial markets and geoeconomic fragmentation will continue to pose risks to the economic outlook.
Prime Minister Narendra Modi has said that robust 8.4 per cent GDP growth in 3rd Quarter of 2023-24 shows the strength of Indian economy and its potential. In a social media post on Thurday, Mr Modi said, the Government’s efforts will continue to bring fast economic growth which shall help 140 crore Indians lead a better life and create a Viksit Bharat.
