India's GDP grew at a massive 8.4 per cent during the October-December quarter of the current financial year 2023-24 and the country continued to remain the fastest-growing major economy.
President Droupadi Murmi, addressing a joint sitting of Parliament on Wednesday, asserted that 2023 was a historic year for the country when it maintained the tag of being the fastest-growing major economy.
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The National Statistics Office in its first advance estimates projected the country's economy to grow 7.3 per cent in the current financial year 2023-24, remaining the fastest-growing major economy.
The industry body's analysis was based on key macroeconomic indicators, including GDP growth, export growth, gross national savings, total investments, and the debt-to-GDP ratio.
The Indian economy is expected to grow 7.3 per cent in the current financial year 2023-24, remaining the fastest-growing major economy, the National Statistics Office said on Friday.
The opening quarter of the financial year 2023 witnessed a staggering 7.8 per cent growth in India's real Gross Domestic Product (GDP), reaching an estimated Rs 40.37 trillion (USD 484.94 billion).
The latest inflow comes at a time when India reported strong quarterly growth maintaining its fastest-growing major economy tag, inflation in a comfortable zone, and political stability in the run-up to General Elections 2024.
Real GDP or GDP at constant (2011-12) prices in Q1 2023-24 is estimated to attain a level of Rs 40.37 lakh crore, as against Rs 37.44 lakh crore in Q1 2022-23
Replying to the debate in Lok Sabha on the general budget on Friday, the Finance Minister also talked about the new tax regime stating that it will leave higher disposable income in the hands of people.