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India’s Q1 GDP – 2022/2023
September 3 , 2022
843 days
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- The National Statistical Office (NSO), Ministry of Statistics and Program Implementation released the estimates of Gross Domestic Product (GDP).
- India’s Q1 GDP is marking an upward trajectory and growing at 13.5%
- Indian Economy continued its recovery from the post-pandemic impact.
- However, the GDP growth figure is significantly lower in comparison to the Reserve Bank of India’s projection of 16.2% GDP growth in Q1 FY23.
- The Gross Domestic Product figure for the April-May-June Quarter was a significant improvement over the previous quarter i.e., Jan-Feb-March 2022.
- In which India’s GDP grew only by 4.1%.
- In the same quarter last year - April-May-June 2021 the country had witnessed GDP growth of 20.1 percent.
- However, the figure was magnified due to the economic contraction in the pandemic year.
- In this Quarter, Private consumption witnessed a growth of nearly 26 percent.
- NSO as an agency that was formed on the recommendation of the Rangarajan Commission.
- NSO was formed after merging the National Sample Survey Office (NSSO) and Central Statistics Office (CSO) under the Ministry of Statistics and Programme Implementation (MoSPI).
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