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India’s Quarterly GDP Growth

Provisional national income data released by the National Statistical Office (NSO)

  • India’s GDP growth accelerated to 6.1% in the January to March 2023 quarter, lifting the economy’s expansion in 2022-23 to 7.2% from 7% estimated earlier.
  • The Gross Value Added (GVA) in the economy is reckoned to have risen 7% in 2022-23, compared with 8.8% in 2021-22.
  • Manufacturing GVA growth slid to just 1.3% from 11.1% a year earlier, despite a 4.5% rebound in the final quarter after six months of contraction.
  • Several sectors delivered positive outcomes.
  • Consumption remained moderate and the overall growth pattern remains uneven.
  • The farm and services sectors encouraged economic outcomes as just three of eight broad economic activity segments recorded higher GVA growth than in 2021-22.
  • The agricultural GVA grew 4%, up from 3.5% in the previous year.
  • The financial, real estate and professional services sectors saw their GVA grow 7.1%, compared with 4.7% in 2021-22.
  • The GVA of the trade, hotels, transport, and communication sectors, as well as services related to broadcasting grew 14%, marginally faster than in the previous year.
  • In GVA terms, the final three months of 2022-23 recorded a three-quarter high of 6.5%.
  • Growth in private final consumption expenditure witnessed a slight uptick to 2.8%.
  • Growth momentum continued across agriculture, industry and services sectors.
  • India’s 6.1% GDP growth was the fastest among major economies



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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: India’s Quarterly GDP Growth
India’s Quarterly GDP Growth
Learnerz IAS | Concept oriented UPSC Classes in Malayalam
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