Leaders Online Desk: It has once again come to light that India's economic horse race is going on fast. In the third quarter of financial year 2023-2024 i.e. October to December, the growth rate of the country (GDP) has been 8.4 percent. The GDP in the December quarter has been higher than the estimates expressed by the experts.
The country's GDP was forecast at 6.64 percent in the October-December quarter, a quarter that saw government spending and industrial production fall, so GDP was also expected to remain low. It is estimated that the GDP will remain at 7.6 percent for the entire year 2023-2024.
The growth rate of the construction sector has been 10.7 percent in the October-December quarter. While the manufacturing sector has recorded a growth of 8.5 percent. Due to the positive growth in these two sectors, the country's GDP has increased.
GDP at Constant (2011-12) Prices in Q3 of 2023-24 is estimated at ₹43.72 lakh crore, against ₹40.35 lakh crore in Q3 of 2022-23, showing a growth rate of 8.4 percent. GDP at Current Prices in Q3 of 2023-24 is estimated at ₹75.49 lakh crore, as against ₹68.58 lakh crore in Q3…
— ANI (@ANI) February 29, 2024
Appreciated by the Prime Minister
Prime Minister Narendra Modi has appreciated the increase in GDP. He said, “The quarters between October and December have once again demonstrated the strength and potential of the Indian economy. We are working hard to make the economy grow faster to build a developed India and provide a better life to the 140 crore people of the country.”
Robust 8.4% GDP growth in Q3 2023-24 shows the strength of Indian economy and its potential. Our efforts will continue to bring fast economic growth which will help 140 crore Indians lead a better life and create a Viksit Bharat!
— Narendra Modi (@narendramodi) February 29, 2024