{"id":108682,"date":"2023-08-31T18:49:03","date_gmt":"2023-08-31T13:19:03","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=108682"},"modified":"2023-08-31T18:49:05","modified_gmt":"2023-08-31T13:19:05","slug":"india-remains-fastest-growing-economy-nso-reports-q1-fy2024-gdp-growth-at-7-8","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/india-remains-fastest-growing-economy-nso-reports-q1-fy2024-gdp-growth-at-7-8\/","title":{"rendered":"India Remains Fastest Growing Economy; NSO Reports Q1 FY2024 GDP growth at 7.8%"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2943288909\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>India recorded an economic growth rate of 7.8% in the April-June quarter of 2023-24 and remained the fastest growing large economy mainly due to better performance by agriculture and financial sectors, government data showed on Thursday. The Gross Domestic Product (GDP) expanded by 13.1% in the April-June quarter of 2022-23.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3870461690\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>India remained the fastest-growing major economy as China posted a 6.3% growth in April-June 2023. According to the National Statistical Office (NSO) data, the agriculture sector gross value added (GVA) recorded growth of 3.5%, up from 2.4% in the April-June quarter of 2022-23. The expansion in &#8216;financial, real estate and professional services&#8217; GVA was 12.2%, up from 8.5% in the year-ago quarter.<\/p><p>However, the GVA in the manufacturing sector decelerated to 4.7% in the first quarter of the current fiscal compared to 6.1% in the year-ago period. The growth in Gross Domestic Product (GDP) during the January-March quarter of 2022-23 was 6.1% and 4.5% during October-December.<\/p><p>&#8220;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, showing a growth of 7.8% as compared to 13.1% in Q1 2022-23,&#8221; NSO said in a statement.<\/p><div class=\"trade-content_5\" id=\"trade-2273145062\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>It further said the nominal GDP or GDP at current prices in the first quarter of 2023-24 has been estimated at Rs 70.67 lakh crore, as against Rs 65.42 lakh crore in the year-ago period, showing a growth of 8% as compared to 27.7% in Q1 2022-23. The NSO will release quarterly GDP estimates for July-September quarter, 2023 (Q2 2023-24) on November 30, 2023.<\/p><p>As per the data, the output (GVA) in the &#8216;mining and quarrying&#8217; decelerated to 5.8% in the first quarter from 9.5% a year ago, &#8216;electricity, gas, water supply and other utility services&#8217; to 2.9% from 14.9%, and &#8216;construction&#8217; to 7.9% from 16%.<\/p><div class=\"trade-after-content\" id=\"trade-306920679\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>India recorded an economic growth rate of 7.8% in the April-June quarter of 2023-24 and remained the fastest growing large economy mainly due to better performance by agriculture and financial sectors, government data showed on Thursday. The Gross Domestic Product (GDP) expanded by 13.1% in the April-June quarter of 2022-23. India remained the fastest-growing major [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13275,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-108682","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>India Remains Fastest Growing Economy; NSO Reports Q1 FY2024 GDP growth at 7.8% - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"India recorded an economic growth rate of 7.8% in the April-June quarter of 2023-24 and remained the fastest growing large economy mainly due to better performance by agriculture and financial sectors, government data showed on Thursday. 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