Growth challenges

Manufacturing sector decline needs policy support

With the release of India’s economic growth numbers for the July-September quarter of 2022 on Wednesday, the Centre’s challenges in managing the economy have become a little more formidable. These numbers have also underlined the economic imperative of presenting an appropriate Budget next February and realistically assessing the growth prospects for 2023-24 in the light of the emerging economic headwinds. According to the National Statistical Office, India’s gross domestic product (GDP) in the second quarter of 2022-23 grew 6.3 per cent in real terms, declining sequentially from 13.5 per cent in the previous quarter. It was low even compared to