Question
How much is the Gross Domestic Product expected to grow
in the current FY23 as per the data released by the Ministry of Statistics and Programme Implementation (MoSPI)?Solution
According to the data released by the Ministry of Statistics and Programme Implementation (MoSPI), the Indian economy grew at 4.4 per cent between October and December 2022 (Q3FY23). However, in the current financial year, India's gross domestic product (GDP) is expected to grow at 7 per cent.The growth in nominal GDP at current price during FY23 is estimated at 15.9 per cent as compared to 18.4 per cent in FY22. RBI had itself projected the real GDP growth for FY23 at 6.8 percent, with the third quarter and fourth quarter growth at 4.4 per cent and 4.2 per cent, respectively.
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