The GDP had expanded by 8.4 per cent in the July-September quarter of 2021-22, according to data released by the National Statistical Office (NSO).
India's economy grew by 6.3 per cent in the second quarter of the current fiscal, official data released on Wednesday showed. The gross domestic product (GDP) had expanded by 8.4 per cent in the July-September quarter of 2021-22, according to data released by the National Statistical Office (NSO).
The construction segment grew 6.6 per cent while public administration, defence & other services rose 6.5 per cent. Electricity, gas, water supply & other utility services climbed 5.6 per cent and agriculture, forestry & fishing segment witnessed a 4.6 per cent rise in GVA, the data showed.
Analysts had projected the Indian economy would expand at half of the growth rate of 13.5 per cent recorded in April-June quarter this fiscal.
According to rating agency Icra, the GDP was likely to grow at 6.5 per cent while State Bank of India in its report, projected the growth rate at 5.8 per cent for July-September, 2022.
Meanwhile, the Reserve Bank of India (RBI) in its report earlier this month projected a growth rate between 6.1-6.3 per cent in Q2. The GDP for the preceding April-June quarter (Q1) of 2022-23 saw a growth of 13.5 per cent.
China registered an economic growth rate of 3.9 per cent in July-September, 2022.
Meanwhile, the government's fiscal deficit at the end of October touched 45.6 per cent of the full year budget estimate, as per data released by the Controller General of Accounts (CGA) on Wednesday.
In actual terms, the fiscal deficit -- the difference between expenditure and revenue -- was Rs 7,58,137 crore during the April-October period of 2022-23.
In the corresponding period last year, the deficit was 36.3 per cent of the budget estimates of 2021-22. For 2022-23, the fiscal deficit of the government is estimated to be Rs 16.61 lakh crore or 6.4 per cent of the GDP.
(With PTI inputs)
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