India's economy grew 7.2% in FY22-23, shows data

May 31, 2023 17:53

Pic: Reuters

India's economy grew 6.1 per cent in the fourth quarter of 2022-23, pushing up the annual growth rate to 7.2 per cent, official data showed on Wednesday.

Growth in the January-March period was higher than the 4.5 per cent expansion in the previous October-December quarter of 2022-23.

The Gross Domestic Product (GDP) had expanded by 4 per cent in the January-March period of 2021-22, according to data released by the National Statistical Office (NSO).

As per the data, the economy expanded 7.2 per cent in 2022-23 against a 9.1 per cent growth in 2021-22.

The NSO in its second advance estimate of national accounts had pegged the country's growth at 7 per cent for 2022-23.

China has registered an economic growth of 4.5 per cent in the first three months of 2023.

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