According to the advance estimates by the National Statistical Office (NS

According to the advance estimates by the National Statistical Office (NSO), the Indian economy is expected to grow at 7 per cent in FY23 as compared to 8.7 per cent in 2021-22. Real GDP or GDP at Constant (2011-12) Prices in the year 2022-23 is estimated at ₹157.60 lakh crore whereas Nominal GDP or GDP at Current Prices in the year 2022-23 is estimated at ₹273.08 lakh crore. In FY23, gross value added (GVA) at basic prices is expected to grow at 6.7 per cent. The services sector, is expected to grow at a robust 9.1 per cent. The gross value added (GVA) in agriculture and allied activities is expected to grow by 3.5 per cent in constant price terms in financial year 2022-23 (FY23). The output of the manufacturing sector is estimated to fall to 1.6 per cent as against a growth of 9.9 per cent in FY22.However, government spending, is expected to grow at 3.1 per cent. Learn Along: NSO                                        Headquarters: New Delhi                        Chairperson: Bimal Kumar Roy The National Statistical Office is headed by Ministry of Staistics & Programme Implementation. The primary function of the National Statistics Office is to collect, compile and release official statistics that are produced subject to the principles of reliability, objectivity, relevance, statistical confidentiality, transparency, specificity and proportionality.