GDP Data for 1st Quarter: The GDP growth rate in the first quarter of 2022-23 has been 13.5 per cent but it is lower than the RBI’s estimate of 16.2 per cent.
After two years of corona pandemic, the Indian economy is back on track. Between April and June, the first quarter of the financial year 2022-23, the Indian economy grew at the rate of 13.5 per cent. Whereas in the first quarter of 2021-22, there was 20.1 percent GDP. So between the fourth quarter January to March, the country’s economic growth rate was 4.1 percent. In fact, the GDP growth rate has increased due to the low base of 2021-22 and the increase in domestic demand. In addition, this quarter has seen an uptick in investment, consumption. The GDP growth rate in the first quarter of 2022-23 has been 13.5 per cent but it is lower than the RBI’s estimate of 16.2 per cent.
The figures have been released by the Ministry of Statistics and Program Implementation. The first quarter of the last two financial years 2020-21 and 2021-22 was affected by the lockdown due to the Corona epidemic. But this time it is not so. However, this quarter also saw a sharp rise in commodity prices due to global factors. Despite this, economic growth has shown momentum.
read this also: Ukraine Pakistan Ordinance Factory: Ukraine raining ‘Pakistani bomb’ on Russian army, video went viral
condition of sectors
In the data released by NSO, it has been said that the growth rate of the manufacturing sector in the first quarter of the financial year 2022-23 has been 4.8 percent, while the growth rate of the manufacturing sector was 49 percent in the first quarter of 2021-22. The growth rate of the agriculture sector has been 2.2 per cent as against 4.5 per cent in the first quarter of 2021-22. The growth rate of the construction sector has been 16.8 per cent as compared to 71.3 per cent in the first quarter of 2021-22. Similarly, the growth rate of services related to trade, hotel, transport, communication and broadcasting has been 25.7 per cent as compared to 34.3 per cent in the first quarter of 2021-22. Financial, real estate and professional services grew at 9.2 per cent, up from 2.3 per cent in the first quarter of the previous year.
read this also: Punjab News: Punjab Chief Minister Bhagwant Mann laid the foundation stone for building a progressive society, said this
For all the news of the country and the world, subscribe to our YouTube channel ‘Web News India’ now. You can also follow us on FACEBOOK, INSTAGRAM and TWITTER.