New Delhi: India's gross domestic product (GDP) for the first quarter, the April-June quarter of the ongoing financial year accelerated to 7.8 per cent, showed data shared by the Ministry of Statistics and Programme Implementation on Thursday, August 31.
The GDP growth stood at 6.1 per cent in the fourth quarter of the previous financial year.
It may be noted that the Reserve Bank of India had forecast GDP growth in the April-June quarter at 7.8 per cent.
While this is lower than the 13.5 per cent GDP growth in the first quarter of the previous year, India’s economy has been growing at a steady pace and is likely to improve further during the upcoming festive season.
Meanwhile, the Centre's fiscal deficit in the first four months of 2023-24 touched 33.9 per cent of the full-year target, government data showed on Monday.
The deficit stood at 20.5 per cent of the Budget Estimates (BE) in the corresponding period of the financial year 2022-23.
KEY INFRA SECTOR GROWTH RISES TO 8% IN JULY.
The growth of eight key infrastructure sectors rose to 8 per cent in July 2023 compared to 4.8 per cent in the same month last year on expansion in production of coal, crude oil, and natural gas, according to the official data released on Thursday.
Production of steel, cement and electricity also grew in July, the data showed.
However, the core sector growth was lower in July compared to the previous month when it was 8.3 per cent, the Commerce and Industry Ministry data showed.
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