India’s economy surged by 8.4 percent in the third quarter of the fiscal year 2023-24 (October-December 2023), as per the latest data released by the National Statistical Office (NSO) on Thursday. This growth was underpinned by strong performances in the manufacturing, mining & quarrying, and construction sectors.
The NSO’s second advance estimate of national accounts projects the country’s growth for the fiscal year at 7.6 percent. This figure is an upward revision from the earlier estimate of 7.3 percent, which was released in January. Additionally, the NSO revised the GDP growth for the fiscal year 2022-23 to 7 percent, down from the previous estimate of 7.2 percent.
Prime Minister Narendra Modi, in a post on X, highlighted the robust growth as a testament to the strength and potential of the Indian economy. He reiterated the government’s commitment to sustaining this momentum to ensure a better quality of life for all 1.4 billion Indians and to foster the development of a prosperous India.
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