India's real GDP rose to Rs 47.24 lakh crore in the fourth quarter of 2023-24, reflecting a 7.8% growth rate. The consistent performance throughout the year pushed the economy to USD 3.5 trillion, with aspirations to reach USD 5 trillion soon.
The NSO's initial estimates for this fiscal year also disclose that the country's Gross Value Added (GVA) is projected to grow at 6.9% in 2023–24, a decrease from the 7% recorded in 2022–23.
GDP is still likely to grow in the double digits in 2021 given the low level of activity in 2020 according to Moody's Investors Service.
The GDP at constant (2011-12) prices in Q2 of 2020-21 is estimated at Rs 33.14 lakh crore.
The second-quarter gross domestic product (GDP) data on India will be released today with the industry expecting positive news. The data will be released by the National Statistical Office.
The Gross Domestic Product (GDP) had grown by 5.2 per cent in the corresponding quarter of FY2019-20. In the quarter just preceding Q1 FY21, the economic growth was at 3.1 per cent. The country had observed mobility restrictions as mandated under the lockdown measures for the better part of the first quarter of FY21.
GDP growth in India and few other large emerging countries may gain some momentum this year after the global economy recorded its lowest growth of 2.3 per cent in 2019 due to prolonged trade disputes, a UN study said on Thursday while lowering its current and next fiscal forecasts for the Indian economy.
He said NSSO data shifted the base year which is not unusual but the CSO data shifted the base year gave up RBI data base and switched over to Ministry of Company Affairs data base called MCA-21.
Indian economy grew at 7.2 per cent in October-December quarter of the current fiscal, official data released by the Central Statistics Office (CSO) showed today.
The IMF statement came as the latest figures showed that India grew at 6.3 per cent in the September quarter compared to 5.7 per cent in the June quarter, reflecting an improvement in the Indian economy.
Twin factors of soon-to-be-released GDP data as well as fiscal deficit figures led to intense selling pressure in the markets.
The deficit stood at 79.3 per cent of the target during the same period of 2016-17, as per official data.
India's GDP growth rate slid to a 3-year low of 5.7 per cent in the first quarter (April-June), mainly on account of slump in manufacturing
Chief statistician TCA Anant has attributed the high level of discrepancies in the second advance estimate of growth to a lag in data availability and stressed that it will not have any bearing on overall GDP.
New Delhi: Stock markets are likely to see positive opening on Monday following increase in the country's growth rate in June quarter, besides cautious sentiment may prevail as the Supreme Court will decide the fate
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