{"id":406853,"date":"2024-01-05T12:55:00","date_gmt":"2024-01-05T12:55:00","guid":{"rendered":"https:\/\/haftavasool.com\/haftavasool\/blog\/2024\/01\/05\/advance-estimates-peg-gdp-growth-during-2023-24-at-7-3\/"},"modified":"2024-01-05T12:55:00","modified_gmt":"2024-01-05T12:55:00","slug":"advance-estimates-peg-gdp-growth-during-2023-24-at-7-3","status":"publish","type":"post","link":"https:\/\/haftavasool.com\/haftavasool\/blog\/2024\/01\/05\/advance-estimates-peg-gdp-growth-during-2023-24-at-7-3\/","title":{"rendered":"Advance Estimates Peg GDP Growth During 2023-24 At 7.3%"},"content":{"rendered":"<p> [ad_1]<br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/c.ndtvimg.com\/2023-01\/3eqameno_economy-generic_625x300_31_January_23.jpg\" \/><\/p>\n<div itemprop=\"articleBody\" id=\"ins_storybody\"><!-- \n\n<div itemprop=\"articleBody\" class=\"sp-cn ins_storybody\" id=\"ins_storybody\">--><\/p>\n<div class=\"ins_instory_dv\"><span itemprop=\"video\" itemscope=\"\" itemtype=\"https:\/\/schema.org\/VideoObject\"><meta itemprop=\"headline\" content=\"Advance Estimates Peg GDP Growth During 2023-24 At 7.3%\"\/><meta itemprop=\"name\" content=\"Advance Estimates Peg GDP Growth During 2023-24 At 7.3%\"\/><meta itemprop=\"description\" content=\"Advance Estimates Peg GDP Growth During 2023-24 At 7.3%\"\/><meta itemprop=\"thumbnailUrl\" content=\"https:\/\/c.ndtvimg.com\/2023-01\/3eqameno_economy-generic_625x300_31_January_23.jpg\"\/><meta itemprop=\"uploadDate\" content=\"2024-01-05T18:25:26+05:30\"\/><meta itemprop=\"embedUrl\" content=\"https:\/\/www.ndtv.com\/video\/embed-player\/?id=751182&amp;category=embed&amp;autostart=1&amp;pWidth=650&amp;pHeight=403&amp;embed_type=story&amp;mute=1&amp;autostart=1&amp;mutestart=true&amp;ctitle=1&amp;miniplayer=1&amp;cache=2022\"\/><meta itemprop=\"ContentUrl\" content=\"https:\/\/ndtvod.pc.cdn.bitgravity.com\/23372\/ndtv\/web_05012023_n_GDPNumbers_79407_60523_320.mp4\"\/><meta itemprop=\"duration\" content=\"T1M43S\"\/><\/span><\/p>\n<p><iframe id=\"videoembed\" class=\"videembedload\" src=\"https:\/\/c.ndtvimg.com\/2023-01\/3eqameno_economy-generic_625x300_31_January_23.jpg?im=FeatureCrop,algorithm=dnn,width=650,height=400\" data-src=\"https:\/\/www.ndtv.com\/video\/embed-player\/?id=751182&amp;category=embed&amp;autostart=1&amp;pWidth=650&amp;pHeight=403&amp;embed_type=story&amp;mute=1&amp;autostart=1&amp;mutestart=true&amp;ctitle=1&amp;miniplayer=1&amp;cache=2022\" scrolling=\"no\" frameborder=\"0\" allowtransparency=\"true\" style=\"border:none; overflow:hidden; width:100%; height:403px; padding-bottom: 0px;padding-left:0px;\"><\/iframe><\/p>\n<p class=\"ins_instory_dv_caption sp_b\">India&#8217;s economy grew 7.2 per cent in 2022\/23 and 8.7 per cent in 2021\/22. (Representational)<\/p>\n<\/div>\n<p>India&#8217;s economy is expected to grow 7.3 per cent in the current fiscal year ending in March, the highest rate of the major global economies, helped by state spending and a pickup in manufacturing, the National Statistics Office said on Friday.<\/p>\n<p>The first advance estimates of annual gross domestic product come after the Reserve Bank of India (RBI) raised its growth forecast last month to 7% from an earlier estimate of 6.5 per cent.<\/p>\n<p>&#8220;These are early projections for 2023\/24,&#8221; the National Statistical Office(NSO) said in a statement, noting that improved data coverage, actual tax receipts and spending on state subsidies would have a bearing on subsequent revisions.<\/p>\n<p>India&#8217;s economy grew 7.2 per cent in 2022\/23 and 8.7 per cent in 2021\/22.<\/p>\n<p>Manufacturing, which accounts for about 17 per cent of the GDP, is estimated to expand 6.5 per cent year-on-year in 2023\/24, compared to 1.3 per cent a year ago, while construction output was seen growing by 10.7 per cent, up from 10 per cent in the previous year, data showed.<\/p>\n<p>However, the growth in farm output, contributing about 15 per cent to GDP was seen slowing down to 1.8 per cent in the current fiscal year, from 4 per cent in the previous year, impacting rural wages.<\/p>\n<p>India posted faster-than-expected economic growth of 7.6 per cent year-on-year in the September quarter, after growing 7.8 per cent in the previous quarter, which prompted many private economists to upwardly revise their yearly estimates.<\/p>\n<p>Among others, S&amp;P Global Ratings expects India will remain the fastest-growing major economy for the next three years, setting to become the world&#8217;s third-largest economy by 2030, overtaking Japan and Germany.<\/p>\n<p>Finance Minister Nirmala Sitharaman will present an interim annual budget on February 1 and is expected to increase spending on infrastructure, helped by rising tax receipts while aiming to lower fiscal deficit from 5.9 per cent of GDP in the current fiscal year.<\/p>\n<p><i>(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)<\/i><\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.ndtv.com\/india-news\/growth-in-gdp-during-2023-24-expected-at-7-3-4805968\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] India&#8217;s economy grew 7.2 per cent in 2022\/23 and 8.7 per cent in 2021\/22. (Representational) India&#8217;s economy is expected to grow 7.3 per cent in the current fiscal year ending in March, the highest rate of the major global economies, helped by state spending and a pickup in manufacturing, the National Statistics Office said [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":406854,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[19237,5302,21618],"_links":{"self":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/posts\/406853"}],"collection":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/comments?post=406853"}],"version-history":[{"count":0,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/posts\/406853\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/media\/406854"}],"wp:attachment":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/media?parent=406853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/categories?post=406853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/tags?post=406853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}