India's GDP increased by 6.1% in Q4

1 Jun 2023 , 02:02 PM

The Indian economy achieved a remarkable 6.1% growth in Q4 of the previous fiscal year. This propelled the overall growth rate for 2022-23 to an impressive 7.2%. India maintains its position as the fastest-growing major economy for the second consecutive year.

Multiple factors contributed to the unexpected surge in GDP numbers:

The last quarter of the fiscal year witnessed exceptional performances in the services sector, exports, and agriculture, all of which played a pivotal role in bolstering the economy. 

The resilience of these sectors has not only exceeded expectations but has also reinforced the statements made by RBI Governor Shaktikanta Das, who had previously hinted at the possibility of higher GDP numbers for 2022-23.

Prime Minister Narendra Modi expresses satisfaction and emphasizes the promising trajectory of the Indian economy.

Growth figures for 2022-23 highlight the remarkable resilience of the Indian economy. India’s economy thrives despite global challenges and uncertainties. Robust performance and positive macroeconomic indicators underscore India’s strength and adaptability. The unwavering spirit of the Indian people contributes to the economy’s success.

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