India’s economy is growing rapidly despite sluggish GDP growth. China recorded economic growth of 3.9 per cent during July-September, while India’s economic growth was 8.4 per cent during the same period, the central government said. India’s GDP Growth: Economy growing fast despite GDP decline; Central Govt.
New Delhi: It is known from the figures released by the government that the country’s GDP growth rate has fallen drastically. The decline in activities mainly in the production and mining sectors has affected the GDP (Gross Domestic Product) . The country recorded a GDP growth rate of 6.3 percent in the quarter ended September. It was 13.5 percent in the previous three-month period. GDP growth, which had hinted at a swift recovery in the post-Covid quarters, has slowed again. India’s GDP Growth: Economy growing fast despite GDP decline; Central Govt.
However, despite sluggish GDP growth, India’s economy is growing rapidly. China recorded economic growth of 3.9 per cent during July-September, while India’s economic growth was 8.4 per cent during the same period, the central government said.
As per real GDP rate calculation, the estimated GDP for 2022-23 is Rs 38.17 lakh crore will be GDP growth was estimated at 8.4 percent in the second quarter. But the Central Statistics Department said that a growth of 6.3 percent was recorded.
The country’s overall GDP growth is expected to be 6.8 to 7 percent in the current financial year. Chief Economic Adviser V said that the country’s economy is back on track Anantha Nageswaran opined. He said that GDP growth is gradually accelerating from 2019-20.
The economy has returned to profitability in the current financial year as a result of many activities including festive sales. It is on track to register a growth of 6.8 to 7 percent, he said.
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Due to the decline in growth in key sectors
According to the Department of Statistics, the reason for the decline in GDP growth is the decline in activities in key sectors. Production of crude oil, natural gas, refined products, cement has seen a 20-month decline. The government said that this is the reason for the decline in GDP growth.
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