New Delhi: Data released by the National Statistical Office (NSO) revealed that the economy of the country grew 13.5% in the April-June quarter from a year ago. This is the fastest annual growth in a year. Thus, India remained the fastest growing major economy in the world. But, this growth rate is lower than broadly predicted by economists, analysts and the Reserve Bank of India.
Gross domestic product (GDP) in the 3 months to June 30 was 13.5%. It was at 4.1% in the January to March quarter. The last time GDP hit a higher annual growth was in April-June 2021. At that time, GDP was at 20.1%.
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Gross Value Added (GVA) grew by 12.7% to Rs 34.41 trillion in April-June this year. The GVA growth in the farm sector is 4.5% in the first quarter compared to 2.2% a year ago.
As per the data, the Nominal GDP or GDP at Current Prices in Q1 2022-23 is estimated at Rs 64.95 trillion. It was at Rs 51.27 trillion in Q1 2021-22.
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