India’s Q1 GDP Grows In Double Digits At 13.5%

Last Updated: August 31, 2022, 17:36 IST

The latest April-June 2022 quarter GDP numbers have been released on Wednesday.

India’s GDP had grown at 4.1 per cent in the previous quarter (Q4FY22)

India’s gross domestic product rose 13.5 per cent in the June 2022 quarter (Q1FY23) as compared with 20.1 per cent in Q1 2021-22, according to the latest official data released on Wednesday. The country’s GDP had grown at 4.1 per cent in the previous quarter (Q4FY22).

“Real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in Q1 2022-23 is estimated to attain a level of Rs 36.85 lakh crore, as against Rs 32.46 lakh crore in Q1 2021-22, showing a growth of 13.5 per cent as compared to 20.1 per cent in Q1 2021-22,” according to an official statement.

According to the latest data released by the National Statistical Office (NSO), during April-June 2022, the country’s nominal GDP (which factors in inflation) jumps 26.7 per cent as against 32.4 percent in Q1 2021-22.

Analysts had predicted the Q1FY23 GDP growth in the range of 13-16.2 per cent. Rating agency Icra expects India’s GDP to grow 13 per cent in Q1FY23, State Bank of India (SBI) sees a 15.7 per cent growth, and the RBI forecasts it at 16.2 per cent.

In the previous quarter (Q4FY22), the country’s GDP rose 4.1 per cent. For the full financial year 2021-22, the GDP saw a growth of 8.7 per cent.

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