GDP grows 6.1 per cent in March quarter, 7.2 per cent in FY23
NEW DELHI: India's economy grew 6.1 per cent in the fourth quarter of 2022-23, a significant rise from 4.4 per cent seen in the third quarter (October-December), pushing up the annual growth rate to 7.2 per cent, as per the official data showed on Wednesday.
The Gross Domestic Product (GDP) had expanded by 4 per cent in the January-March period of 2021-22, according to data released by the National Statistical Office (NSO).
The Reserve Bank of India (RBI) had suggested a growth rate of 4.4 per cent for the last quarter of 2022-23, however, that projection was based on the annual GDP projection of 6.8 per cent by the central bank.
As per the data, the economy expanded 7.2 per cent in 2022-23 against a 9.1 per cent growth in 2021-22.
The NSO in its second advance estimate of national accounts had pegged the country's growth at 7 per cent for 2022-23.
China has registered an economic growth of 4.5 per cent in the first three months of 2023.
(With inputs from IANS)