According to the latest data released, India’s Gross Domestic Product rose 13.5% in June 2022 quarter (Q1FY23) to 20.1% in Q1 2021-23. This is the Country’s fastest growth in a year observed to date.
GDP had grown at 4.1% in the previous quarter, whereas 5.4% in the December 2021 quarter of FY22 and 8.4% in the September 2021 quarter. Manufacturing saw a growth of 4.8% growth as compared with 49% seen in a year. It reduced by 0.2% in January-March 2022 quarter.
In the first quarter of this financial year, hotel, trade, transport, communication, and services observed rapid growth of 25.7%, higher than the 11% rise witnessed in the last quarter. Gross fixed capital formation, acting as an indicator of investing activity in the June 2022 quarter.
Private Final Consumption Expenditure (PFCE), final consumption expenditure (GFCE) registered 9.9% and 9.6% respectively in 1QFY20.