The Strategist

India expects GDP growth in fiscal year 2022-23

03/01/2023 - 10:28

According to the National Statistics Office of India's Ministry of Statistics and Programmes, the country's GDP will grow by 7.0% in the fiscal year 2022–2023.

The department stated in a preliminary report that "GDP growth for 2022-2023 is projected at 7.0%, up from 9.1% in 2021-2022."

Real GDP at constant prices for 2022–2023 is predicted to be 159.71 trillion rupees ($1.93 trillion), according to the report, up from the initial revised projection of 149.26 trillion rupees ($1.806 trillion) for 2021–2022.

The office notes that nominal GDP or GDP at current prices is projected to reach 272.04 trillion rupees ($3.29 trillion) in 2022–2023 as opposed to 234.71 trillion rupees ($2.84 trillion) in 2021–2022, which makes the development rate stand at 15.9 percent.

According to the government, GDP at constant prices in the third quarter of fiscal 2022–2023 was estimated at 40.19 trillion rupees ($486.4 billion), up 4.4% from the third quarter of 2021–2022.



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