New Delhi: The Indian economy has grown at a rate of 13.5 percent in the first quarter of the current financial year as the wheels of the Indian economy have picked up speed in the last one year.
This information has been obtained from the data released by the National Statistics Office (NSO) on Wednesday. In the April-June quarter of the previous financial year (2021-22), the GDP growth rate was 20.1 percent.
Many analysts compare the country’s economic growth rate on a comparative basis
Expected to stay in the double digits
Rating agency Icra had estimated GDP growth at 13 percent in the first quarter of the current fiscal, while State Bank of India reported it at 15.7 percent.
The Reserve Bank of India, in its policy review this month, projected GDP growth at around 16.2 per cent in the first quarter of 2022-23. China’s growth rate was 0.4 percent in the April-June quarter of 2022.
7.2 % growth forecast for the current financial year
The RBI in its monetary policy meeting earlier this month projected GDP growth to be around 16.2% in the first quarter of the current fiscal. RBI has maintained its GDP growth forecast for FY23 at 7.2%.