GDP for March quarter of 2022-23 rose to 6.1%, FY23 growth pegged lower at 7.2%

New Delhi (IANS) India’s economic growth rose to 6.1 per cent in the fourth quarter (January-March) of 2022-23, a significant rise from 4.4 per cent seen in the third quarter (October-December), according to government data released on Wednesday.

However, the growth in real GDP during 2022-23 is estimated to be lower at 7.2 per cent as compared to 9.1 per cent in 2021-22, the data released by the Ministry of Statistics and Programme Implementation said.

The GDP growth was 6.3 per cent in the September-quarter of 2022-23.

The second quarter (July-September) growth itself was almost half of 13.2 per cent growth seen in the April-June quarter of 2022-23.

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.

The first advance estimate of the GDP which was released in January, had suggested a 7 per cent growth for 2022-23.

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