FY22-23 GDP Growth Figures Show Economic Resilience Amidst Global Challenges: PM

Prime Minister Narendra Modi on Tuesday has expressed satisfaction about the financial year (FY) 2022-23 gross domestic product (GDP) growth figures while seeing a promising trajectory for the economy of the country. 

India's GDP grew by 6.1 per cent in the fourth quarter of fiscal year 2022-23, compared to 4.4 per cent growth in the previous October-December quarter, according to the data released by the National Statistics Office (NSO) of the central government. 

The Prime Minister took to Twitter and wrote, "The 2022-23 GDP growth figures underscore the resilience of the Indian economy amidst global challenges. This robust performance along with overall optimism and compelling macro-economic indicators, exemplify the promising trajectory of our economy and the tenacity of our people."

For the entire FY 2022-23, the Indian economy witnessed a 7.2 per cent growth rate which is higher than the RBI's estimate of 7 per cent. However, the pace of growth was slower as compared to the 9.1 per cent registered n FY22.

The data also showed that nominal GDP growth in the year 2022-23 is estimated to attain a level of Rs 272.41 lakh crore, as against Rs 234.71 lakh crore in 2021-22, showing a growth rate of 16.1 per cent.