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Rice production, telecom subscribers pull down GDP growth in Q2 FY23

Steel consumption, commercial vehicle sales and some other sectors help economy

Economic growth, GDP
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Indivjal Dhasmana New Delhi
India’s gross domestic product growth in the second quarter of this financial year was dragged down by rice production, crude oil production, telecom subscribers, and cargo handled at airports, as steel consumption, commercial vehicle sales, private vehicles purchase and cargo handled at sea ports helped it.

Rice production at current prices declined 20.7 per cent in the quarter against 4.9 per cent in the year-ago period. Alongside, farm and allied activities at current prices grew 15 per cent against 6.9 per cent over this period. This meant other farm activities, particularly non-crop ones, gave a fillip to the primary sector.