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India’s Q1 GDP grows at 13.5 % in April-June 2022-23, fastest pace of expansion in a year

After the corona pandemic, India's economy grew 13.5 per cent in the April-June quarter from a year ago, its fastest annual expansion in a year.

By Ruchi Upadhyay 
Updated Date

New Delhi: The country’s economy has grown at the rate of 13.5 percent in the first quarter (April-June) of the current financial year. This information has been received from the data released on Wednesday by the National Statistical Office (NSO). According to government data, the country’s Gross Domestic Product (GDP) growth rate was recorded at 13.5 per cent in the April-June quarter of the current financial year, as compared to 4.1 per cent in the January-March quarter. In the April-June quarter of the previous financial year (2021-22), the GDP growth rate was 20.1 percent.

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Considering the comparative basis, many analysts had projected the country’s economic growth rate to be in double digits. Rating agency ICRA had projected the GDP growth rate to be 13 percent in the first quarter of the current financial year, while a report of State Bank of India had projected it to be 15.7 percent. In the monetary policy review this month, the Reserve Bank of India had projected the GDP growth rate to be around 16.2 percent in the first quarter of 2022-23. China’s growth rate in the April-June quarter of 2022 has been 0.4 percent.

Earlier this month, in its monetary policy meeting, the Reserve Bank of India (RBI) said that the GDP growth rate is likely to be around 16.2 per cent in the first quarter of this fiscal year. China registered an economic growth of 0.4 per cent in April-June 2022.

The Reserve Bank of India (RBI) stated earlier this month that the first quarter of current fiscal year’s GDP growth rate is projected to be in the range of 16.2%. In the four months from April to June 2022, China’s economy grew by 0.4%.

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