India’s Gross Domestic Product (GDP) registered a growth of 7.8 percent in the April-June quarter of the current fiscal (2023-2024), compared to a growth of 6.1 percent in the previous January-March quarter of fiscal 2022-23. According to official data shared by the National Statistical Office. The country’s real GDP came in line with economists’ estimate of 7.7-8.5 percent. Manufacturing posted a growth of 4.7 percent in the April-June quarter quarter. The Agriculture sector registered a growth of 3.5 percent; while the services sector grew at 9.2 percent.
Meanwhile, India’s nominal GDP or GDP at Current Prices in Q1FY24 showed a growth rate of 8 percent as compared to 27.7 percent in Q1 FY2022-23.
Information and Broadcasting Minister Anurag Thakur said, India’s GDP growth is yet another milestone in country’s unstoppable economic growth. In a social media post, Mr Thakur said India is bound to progress under the leadership of Prime Minister Narendra Modi with ‘nation in heart and mission in mind’. He added that inspired by the philosophy of ‘Sarve Bhavantu Sukhinah’, The Government reshaped economic policies to make them result-oriented and to serve the larger interest of society.
The Minister said Production Linked Incentive Schemes and UPI were introduced, and schemes like Make in India, Start-up India, and Mudra Yojana were launched to encourage entrepreneurship at the micro level. He added that initiatives were taken to harness the skills of women to engage them in economic activities and all these proved key driving forces of the growth. Mr Thakur said the GDP is not just an indicator of the growth of the country only, but it explains all about India’s swift march from a ‘Fragile 5 to Top 5’ economy. He pointed out that when the opposition indulged in negative politics, the Modi Government was quietly working for the growth of the country and its people.
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