Explore Our Affordable Courses

Click Here

Assessing India GDP Growth Rate Trajectory: Q1 FY24 Insights | PWOnlyIAS 2023

September 22, 2023

GS Paper III Indian Economy

Subject: GS-03: Indian Economy

Context:

In the 1st quarter (Q1) of financial year 2024 (FY24), Assessing India’s GDP Growth rate witnessed inflationary pressures, a falling rupee, fluctuations in tax revenue streams and an apprehensive outlook on the agriculture sector.

India GDP growth rate of Q1 FY24: Insights and Projections

The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation released the estimates of GDP for the quarter (Q1) of 2023-24.
The Q1 data covering the GDP growth rate from April to June of FY24 boasts a nominal growth rate of 8% and a real growth rate of 7.8%.
Agriculture sector currently reflects an uptick, growing at 3.5%. However, it is unlikely to be sustained due to pressure from the El Niño phenomenon.
The services industry, with financial, real estate and professional services growing at 12.2%.
Growth rate is expected to be sustaining around 6.5% for the current financial year.

Calculating Gross Domestic Product (GDP):

Conventional way to assess a country’s economic situation is to look at the quarterly (three-month) and annual (12-month) GDP growth rate and compare it to previous quarters as well as years.

News Source: The Hindu

To get PDF version, Please click on "Print PDF" button.

Recent Post
Most Viewed Post

Adarsh Gaushala: India’s first self-sufficient gaushal...

World Fisheries Day

Govt. notifies Telecom Cybersecurity Rules

29th U.N. Climate Change Conference (COP29)

Iran to launch ‘advanced centrifuges’ in response to UN ...

Emerging Technologies in Aquaculture: Biofloc Technology �...

Social Stock Exchange

Data Point

Arsenic and Fluoride In Groundwater

WHO Launches ICD 11 – A Traditional Medicine Module 2:...

Prime- Minister’s Egypt State Visit

Drug Controller General of India

Recent Editorial

Democratising Al needs a radically different appro...

Conflicts in West Asia: Implications of escalating...

Incredible India’s Tourism target of 100 mil...

On the Suggestion for an All-India Judicial Servic...

India needs an Environmental Health Regulatory Age...

Is Social Media Doing More Harm than Good to Democ...

Popular current affairs

Adarsh Gaushala: India’s first self-sufficie...

World Fisheries Day

Govt. notifies Telecom Cybersecurity Rules

29th U.N. Climate Change Conference (COP29)

Iran to launch ‘advanced centrifuges’ in respo...

Emerging Technologies in Aquaculture: Biofloc Tech...

Our Courses

Our Courses

Need help preparing for UPSC or State PSCs?

Connect with our experts to get free counselling & start preparing

THE MOST
LEARNING PLATFORM

Learn From India's Best Faculty

Subscribe our Newsletter

Sign up now for our exclusive newsletter and be the first to know about our latest Initiatives, Quality Content, and much more.

*Promise! We won't spam you.

Yes! I want to Subscribe.

Contact Details

THE MOST
LEARNING PLATFORM

Learn From India's Best Faculty

Follow Us:

Subscribe our Newsletter

Sign up now for our exclusive newsletter and be the first to know about our latest Initiatives, Quality Content, and much more.

*Promise! We won't spam you.

Yes! I want to Subscribe.

Contact Details

Download Our App