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India's GDP grows by 13.5 pc in April-June quarter of FY23
Indian economy
Image credit: Pixabay

India's GDP grows by 13.5 pc in April-June quarter of FY23

| @indiablooms | 31 Aug 2022, 07:07 pm

New Delhi: India's GDP grew at a rate of 13.5 percent in the April-June quarter in FY23 compared to the previous quarter (Jan-March),  according to the data released by the National Statistical Office (NSO) on Wednesday.

This is the highest growth in a quarter since the GDP grew at 20.1 percent in the April-June quarter of 2021.

However,  13.5 percent of GDP growth is lower than predicted by RBI as well as economists and analysts.

The RBI had pegged the growth rate to be around 16.2 percent in the April-June quarter.

A Reuters poll of economists had predicted the economy would grow 15.2 percent year-on-year in the April-June quarter.

State Bank of India, in its report, had projected the growth rate at 15.7 percent for April-June 2022.

The data shows that the manufacturing sector grew at 4.8 percent as compared to 4.9 percent in the same quarter last year.

The agriculture sector saw a growth of 4.5 percent versus 2.2 percent on a year-on-year basis, the report showed.

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