India’s real GDP is estimated to grow by 8.2 percent in the Financial Year 2023-24 as compared to the growth rate of 7 percent registered in Financial Year 2022-23. According to the Ministry of Statistics and Programme Implementation, real GDP or GDP at constant prices is estimated to attain a level of over 173 lakh crore rupees in the year 2023-24.
In a statement, the Ministry said, nominal GDP or GDP at current prices is estimated to attain a level of over 295 lakh crore rupees in the year 2023-24, against 269.50 lakh crore rupees in 2022-23, showing a growth rate of 9.6 percent.
Finance Minister Nirmala Sitharaman said that today’s GDP data showcases robust economic growth with a growth rate of 8.2 percent for the Financial Year 2023-24 and 7.8 percent for Quarter-4 of the Financial Year 2023-24. She added, this remarkable GDP growth rate is the highest among the major economies of the world. In a social media post, the Finance Minister said that it is worthwhile to note that the Manufacturing sector witnessed a significant growth of 9.9 percent in 2023-24. She said, many high-frequency indicators indicate that the Indian economy continues to remain resilient and buoyant despite global challenges.
