Current Affairs India: ExplainSpeaking | How to read Q3 growth data

Tuesday, 28 February 2023

ExplainSpeaking | How to read Q3 growth data

The Ministry of Statistics and Programme Implementation Tuesday released economic growth data — Gross Domestic Product (GDP) and Gross Value Added (GVA) — for the third quarter (Q3 or October to December) of the current financial year (2022-23 or FY23), as well as the so-called Second Advance Estimates (SAEs) for the full year.

Numbers suggest that while India's economy grew faster in the past three years than previously reported, it is rapidly losing its growth momentum. It is likely to slow down from 9.1 per cent in FY22 to under 6 per cent in FY24.