India’s GDP Grow to 6.1% In Q4 FY23, Rack-Up At 7.2% In the Previous Financial Year: In India, the Ministry of Statistics and Program Implementation (MOSPI) released a report on Wednesday that states the Gross Domestic Product of FY23. According to the report, the GDP growth rate for Q4 FY23 has grown 6.1% and the center has expected that the overall GDP would clocked at 7.2%.
The previous economic growth is 13.1%, 6.2%, 4.5% in Q1, Q2, and Q3 respectively; the above-mentioned rates are for FY23. Many central firms are expected to GDP growth and most of them stay at around 5%. The report also states that the economy has grown at 5% in Q1 on a YoY basis due to the spending cost and demands.
In Q1, the rate of India’s manufacturing sector has been raised to 4.5% and it has marked a 1.1% contraction. The report also states about the sales of electronic goods, raw materials, crude oils, and automobiles. The officials are considering that this is a sharp turn unexpectedly as many of them are expected a downturn rate of growth.
