GDP growth in September quarter upheld by investments, services

1 Dec 2022 , 12:35 PM

India’s GDP growth in the September quarter stood at 6.3%. Services and Investments grew in the quarter.  Manufacturing contracted year-on-year by 4.3% . Among Services, trade, transport, hotels & communication grew year-on-year by 14.7%. Fixed investments or gross capital formation increased year-on-year by 10.4%. Agricultural, forestry and fishing grew year-on-year by 4.6% in the quarter. Output of mining sector came down by 2.3%.  High growth rate in Services & Investment was also because of the low base impact of the September quarter of 2021. 

GDP is the final value of goods and services produced in a country in a given period. It is the sum of Private Consumption , Government Expenditure, Investment and Net exports. Net exports in the GDP equation is the difference between Exports and Imports of the country. Finance Minister Nirmala Sitharaman said that the government will increase its expenditures in order to give a boost to GDP in the coming quarters.