However compared to 6.1 per cent growth recorded in January-March period of 2022-23, the GDP growth for the first quarter of 2023-24 was higher at 7.8 per cent.
“Real GDP or GDP at constant (2011-12) prices in Q1 2023-24 is estimated to attain a level of Rs 40.37 lakh crore, as against Rs 37.44 lakh crore in Q1 2022-23, showing a growth of 7.8 per cent as compared to 13.1 percent in Q1 2022-23,” an official statement said.
All activities like agriculture, mining, manufacturing, electricity, construction, hotel and transport, showed a decline in the first quarter of 2023-24 against first quarter of 2022-23, the data showed.
According to RBI’s monetary policy committee (MPC), the real GDP growth for first quarter of 2023-24 was projected at 8 per cent.
The GDP growth recorded for the first quarter of current fiscal though is even lesser than RBI’s estimate.
–IANS
ans/uk
