Prime Minister Narendra Modi expressed his satisfaction on the remarkable economic performance of India, celebrating an impressive 8.4% GDP growth in the December quarter. Utilizing the social media platform X, he highlighted the robustness of the Indian economy and its inherent potential. In a post, the Prime Minister outlined his commitment to sustaining rapid economic growth, aiming to enhance the quality of life for the country’s 140 crore citizens, while striving for the creation of a developed India.
The latest data released by the National Statistical Office (NSO) revealed that India’s GDP experienced a substantial growth of 8.4% in the October-December quarter of 2023, a significant leap from the 4.3% recorded in the same period of 2022. Notably, the manufacturing sector demonstrated remarkable progress, with its output, as per the gross value added, expanding by 11.6% in the third quarter of the fiscal year. This marked a notable improvement compared to the 4.8% contraction witnessed in the corresponding period of the previous year.
Providing further insights, a government statement indicated that the real GDP at Constant (2011-12) Prices for the year 2023-24 is estimated to reach ₹172.90 lakh crore. This reflects a substantial increase from the first revised estimates of GDP for 2022-23, which stood at ₹160.71 lakh crore. The growth rate for the fiscal year 2023-24 is estimated at 7.6%, showcasing a positive trajectory compared to the 7.0% growth recorded in the preceding fiscal year.
Prime Minister Modi’s acknowledgment of the robust GDP growth underscores the government’s commitment to fostering economic development. The emphasis on sustaining this growth aligns with the broader objective of enhancing the well-being of the Indian population and propelling the nation towards becoming a developed entity. As India continues to navigate economic challenges and opportunities, the government’s focus on fast-paced economic growth remains pivotal in driving positive outcomes for the country and its citizens.
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