NEW DELHI: The first advance estimate of gross domestic product (GDP) released on Friday shows that the Indian economy is projected to grow at 7% in the financial year 2022-23 (FY22).
Releasing the first advance estimates of National Income for 2022-23, the National Statistical Office (NSO) stated, “Real GDP or GDP at Constant (2011-12) Prices in the year 2022-23 is estimated at Rs 157.60 lakh crore, as against the Provisional Estimate of GDP for the year 2021-22 of Rs 147.36 lakh crore, released on 31st May, 2022.”
The estimate is lower than FY22 GDP growth of 8.7%. This can be mainly attributed to poor performance of the manufacturing sector, the NSO said.
Releasing the first advance estimates of National Income for 2022-23, the National Statistical Office (NSO) stated, “Real GDP or GDP at Constant (2011-12) Prices in the year 2022-23 is estimated at Rs 157.60 lakh crore, as against the Provisional Estimate of GDP for the year 2021-22 of Rs 147.36 lakh crore, released on 31st May, 2022.”
The estimate is lower than FY22 GDP growth of 8.7%. This can be mainly attributed to poor performance of the manufacturing sector, the NSO said.
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