The government on Friday estimated that the Indian economy will grow by 7.3 per cent in current fiscal against 7.2 per cent expansion in Financial Year 2022-23.
Releasing the first advance estimates of National Income for 2023-24, the NSO said, "Real GDP or GDP at Constant (2011-12) Prices in the year 2023-24 is estimated to attain a level of Rs 171.79 lakh crore, as against the Provisional Estimate of GDP for the year 2022-23 of Rs 160.06 lakh crore, released on 31st May 2023".
According to a statement, the growth in real GDP during 2023-24 is estimated at 7.3 per cent compared to 7.2 per cent in 2022-23.
GDP at current prices in the year 2023-24 is estimated at Rs 296.58 lakh crore against the provisional estimate of GDP of Rs 272.41 lakh crore for the year 2022-23, released on May 31, 2023, it stated.
The growth in nominal GDP during 2023-24 is estimated at 8.9 per cent against 16.1 per cent in 2022-23, it added.
In December 2023, the RBI raised India's GDP growth rate estimate to 7 per cent for 2023-24 from its earlier projection of 6.5 per cent.
With inputs from PTI
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