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GDP Data: Chief Economic Advisor V Anantha Nageswaran has said that the Indian economy will definitely achieve 6.8 to 7 percent economic growth in the current financial year 2022-23. He said that the Indian economy continues to be on the path of recovery and the GDP has reached the average level of 2019-20.
After the GDP figures for the second quarter of 2022-23 came out, the Chief Economic Advisor said that the Indian economy is on track to achieve 6.8 to 7 percent economic growth in 2022-23. He said that despite the global crisis, the economy has benefited immensely from the tremendous sales, PMI, rising demand for loans, and excellent auto sales in the festive season. The International Monetary Fund has projected the Indian economy to grow at a rate of 6.8 percent in the current financial year, while the RBI has projected a GDP growth of 7 percent.
Earlier, the GDP figures for the second quarter have been released by the Ministry of Statistics & Program Implementation, according to which the second quarter of the current financial year 2022-23 is from July to September. -September), the country’s economy has grown at a rate of 6.3 percent, which is less than the country’s economic growth rate (GDP) of 8.4 percent in the second quarter of last year 2021-22. The Indian economy had grown at a rate of 13.5 per cent between April and June in the first quarter of this financial year.
At the same time, between April and October of the financial year 2022-23, the country’s fiscal deficit has increased to Rs 7.58 lakh crore, which is 45.6 percent of the annual estimate. Apart from this, the rate of growth in production of 8 basic industries has weakened. According to the data released on Wednesday, the rate of growth in the production of these industries has slowed down to 0.1 percent in the month of October, which is the lowest level in 20 months.
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