New Delhi, August 31 (UNI): Aided by low base, India’s Gross Domestic Product (GDP) grew 13.5% in the April-June quarter (Q1) of FY2022-23 as compared to 20.1% in the corresponding quarter last year.
Second wave of the Covid-19 pandemic in the April-June quarter of previous year had significantly impacted economic activities.
“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% as compared to 20.1% in Q1 2021-22,” National Statistical Office (NSO) said on Wednesday.
Nominal GDP or GDP at current prices in Q1 2022-23 is estimated at Rs 64.95 lakh crore, as against Rs 51.27 lakh crore in Q1 2021-22, showing a growth of 26.7% as compared to 32.4% in Q1 2021-22.
“The range of forecast (for GDP) somewhere between 13% and 15% had come out. Some were saying 17% also. So, it has shown the lower-end of the consensus forecast largely due to external shocks (Ukraine war and geo-political crisis),” N R Bhanumurthy, Vice Chancellor of BR Ambedkar School of Economics, said.