India's Q2 GDP growth comes in at 6.3%

[walterbibikow]

2022 Q2 GDP Data India: India’s gross domestic product (GDP) for the July-September quarter (Q2) of the ongoing financial year 2022-23 slowed to 6.3 per cent, as per provisional estimates released by National Statistical Office (NSO) on Wednesday. The GDP had expanded by 8.4 per cent in the corresponding quarter of 2021-22.

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.

As per the government data, the gross value added (GVA) at basic price at constant terms during the September quarter rose 5.6 per cent. The GVA at basic price at current prices rose 16.2 per cent in Q2 2022-23.

As per the data by the NSO, the GVA of trade, hotels, transport, communication & services related to broadcasting witnessed a rise of 14.7 per cent while that of financial, real estate & professional services climbed 7.2 per cent.

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.

Q2 GDP India: India’s economic growth slows to 6.3% in July-September quarter

Q2 GDP Growth Rate India: India's gross domestic product (GDP) rose 6.3 per cent during the July-September (Q2) quarter of the financial year 2022-23.

indianexpress.com

 

[Turingsage]

World economy has suffered from the effects of war in Ukraine and the Covid pandemic.
The world is also suffering from quantative easing over the last decade and the chickens are coming home to roost with higher inflation and the higher interest rate response.
Many Western economies are in recession with negative growth,
Under the circumstance's we will in India will have to be satisfied with sub 10% growth rate this year at least before the Indian economy bounces next financial year.

still growing though