India's March GDP growth touches 7.8 per cent, pushing annual growth rate to 8.2 percent

India's GDP growth touched 7.8 percent in the March quarter, pushing the  annual growth rate to 8.2 per cent, as per data released by the Indian government on Friday.

IBNS • 31 May 2024, 07:40 am

India's March GDP growth touches 7.8 per cent, pushing annual growth rate to 8.2 percent

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"Real GDP has been estimated to grow by 8.2% in FY 2023-24 as compared to the growth rate of 7.0% in FY 2022-23. Nominal GDP has witnessed a growth rate of 9.6% in FY 2023-24 over the growth rate of 14.2% in FY 2022-23," read the statement issued by he Indian government.

Real GVA has grown by 7.2% in 2023-24 over 6.7% in 2022-23.

This GVA growth has been mainly due to significant growth of 9.9% in Manufacturing sector in 2023-24 over -2.2% in 2022-23 and growth of 7.1% in 2023-24 over 1.9% in 2022-23 for Mining & Quarrying sector.

Real GVA and Real GDP have been estimated to grow by 6.3% and 7.8% respectively in Q4 of FY 2023-24.

Growth rates in Nominal GVA and Nominal GDP for Q4 of FY 2023-24 have been estimated at 8.0% and 9.9% respectively.