GUWAHATI: India’s Gross Domestic Product (GDP) showed a growth rate of 8.4 percent in the third quarter of 2023-24 and was estimated at Constant (2011-12) Prices of ₹43.72 lakh crore, against ₹40.35 lakh crore in the third quarter of 2022-23.
The GDP at Current Prices in the third quarter of 2023-24 was estimated at ₹75.49 lakh crore, against ₹68.58 lakh crore in the third quarter of 2022-23, with a growth rate of 10.1 percent, as per a report from the National Statistical Office (NSO) of the Ministry of Statistics and Programme Implementation (MoSPI).
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Prime Minister Narendra Modi expressed his happiness at the news on his official X account yesterday and stated, “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 shall help 140 crore Indians lead a better life and create a Viksit Bharat!”
Furthermore, the Real GDP or GDP at Constant (2011-12) Prices in the year 2023-24 grew at an estimated rate of 7.6% in the third quarter of 2023 between the months of October to December, while the GDP reportedly attained a level of ₹172.90 lakh crore, against the FRE of GDP for the year 2022-23 of ₹160.71 lakh crore when the growth rate percentage was also recorded at 7.0 percent.
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The report further revealed that the Nominal GDP or GDP at Current Prices in the year 2023-24 attained an estimated level of ₹293.90 lakh crore, against ₹269.50 lakh crore in 2022-23, showing a growth rate of 9.1 percent from the previous year, and the GDP at Constant (2011-12) Prices in the third quarter of 2023-24 was estimated at ₹43.72 lakh crore, against ₹40.35 lakh crore in the third quarter of 2022-23, showing a growth rate of 8.4 percent.
Additionally, the per capita GDP was recorded at ₹123,945 crore for the population of nearly 1.4 billion, an increase from the ₹116,216 crore in 2022-23, as per the report.