After voting in 5 states, exit poll trends have started coming. Meanwhile, the government has received very good news. In the second quarter, the country’s GDP figures have crossed 7.5 percent. National Statistical Office i.e. NSO has released GDP figures on Thursday. According to the data, India’s GDP witnessed a growth of 7.6 per cent in the second quarter (July-September), exceeding analysts’ expectations. Whereas in the same period a year ago, the country’s GDP was at 6.2 percent. The special thing is that the country’s central bank RBI itself had expected 6.5 percent.
India’s GDP grew 7.6% in July-September quarter
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How much has GDP become?
According to the information given by NSO, real GDP or GDP at stable price (2011-12) prices is estimated to reach the level of Rs 41.74 lakh crore in the second quarter of 2023-24, while in the second quarter of 2022-23 it will reach Rs. Was Rs 38.78 lakh crore. The country’s growth rate in the second quarter of the financial year 2022-23 was 6.2 percent. The rate setting panel of the Reserve Bank of India in its October meeting had estimated the growth rate at 6.5 percent.
Boom in manufacturing and mining sectors
Agriculture, livestock, forestry and fishing industries have seen a growth of 1.2 percent in the second quarter. Whereas in the same period of the last financial year, this growth was seen at 2.5 percent. Meanwhile, mining and quarrying has seen a growth of 10 percent, whereas in the same period last year, an increase of 0.1 percent was seen. There has been tremendous growth in the manufacturing sector. In the second quarter this figure was seen at 13.9 percent. Which was at 3.8 percent in the same period last year. Consumer demand remains strong, contributing about 60% to GDP growth. Despite inflationary pressure from irregular monsoons, demand from India’s vast population of more than 1.4 billion people remains stable.
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