GDP Data: India's Economy Grows by 13.5 Percent in First Quarter of 2022-23
The gross domestic product (GDP) had expanded by 20.1 percent in the corresponding April-June period of 2021-22.
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India's economy grew by 13.5 percent in the first quarter of the current fiscal, mainly due to the base effect, official data showed on Wednesday, 31 August.
The gross domestic product (GDP) had expanded by 20.1 percent in the corresponding April-June period of 2021-22, according to data released by the National Statistical Office (NSO).
Many analysts had projected the Indian economy will expand at a double-digit growth rate due to the base effect.
According to rating agency ICRA, the gross domestic product was likely to grow at 13 percent while State Bank of India in its report, projected the growth rate at 15.7 percent for April-June 2022.
Earlier this month, in its monetary policy meeting, the Reserve Bank of India (RBI) said that the GDP growth rate is likely to be around 16.2 percent in the first quarter of this fiscal year.
China registered an economic growth of 0.4 percent in April-June 2022.
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