Agencies
India’s economic growth accelerated to 8.4 per cent in the October-December quarter of this fiscal, mainly due to double-digit growth in manufacturing and good showing by mining & quarrying and construction sectors. The GDP (gross domestic product) growth was 4.3 per cent in the October-December 2022 quarter, according to the data released by the National Statistical Office (NSO) on Thursday.
The manufacturing sector’s output, as per the gross value added in the third quarter of this fiscal, grew by 11.6 per cent compared to a contraction of 4.8 per cent in the year-ago period. Mining and quarrying grew at 7.5 per cent in the third quarter, up from 1.4 per cent a year ago.
The NSO, in its second advance estimate of national accounts, pegged the country’s growth at 7.6 per cent for 2023-24. It had projected a growth of 7.3 per cent for the current fiscal in its first advance estimates released earlier in January 2024. The NSO also revised the GDP growth for 2022-23 to 7 per cent against the earlier estimate of 7.2 per cent.
