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Robust activity in services sector holds up 6.3% GDP growth in Q2

GDP grew 7.6 per cent in the September quarter of FY23 over the comparable period in FY20, which was before the pandemic

Economic growth, GDP
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Gross value added (GVA) at basic prices grew 5.6 per cent in the second quarter of FY23 compared to 12.7 per cent during the preceding one

Asit Ranjan Mishra New Delhi
India’s economy grew 6.3 per cent in the September quarter of FY23, boosted by robust activity in services, even as manufacturing output contracted unexpectedly, signalling uneven post-pandemic recovery in Asia’s third-largest economy.

While the Reuters and Bloomberg polls had projected 6.2 per cent growth for the quarter, the Reserve Bank of India was spot on with its forecast of 6.3 per cent.

In the June quarter of FY23, the economy had expanded 13.5 per cent due to a low base in the equivalent period of 2021-22, when economic activity was severely impacted by the Delta wave of the pandemic.

The data released by

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First Published: Nov 30 2022 | 5:41 PM IST

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