India’s GDP Q1 FY23 data will be made public this evening

(PTI) India’s GDP data for the quarter between April and June of the fiscal year that is to gauge the growth of the economy is expected to be released through the National Statistical Office (NSO) later in the evening.

The data will elaborate on the growth of various industries like manufacturing and agriculture in the initial quarter of the current financial year.

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Many experts believe that the Indian economy will grow at a rate of growth that is double-digit because of the base effect.

According to the rating agency ICRA the Gross Domestic Product (GDP) is projected to increase by 13 percent, while State Bank of India in its report estimated its growth estimate at 15.7 percent.

In the previous year, the growth in GDP was 20.1 percent in the quarter between April and June.

In its meeting on monetary policy in the month of April, in its monetary policy meeting, the Reserve Bank of India (RBI) declared that the GDP growth rate will be in the range of 16.2 per cent during the initial quarter the fiscal year.

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