Robust performance

Sustaining growth would be challenging

India’s economic performance in 2022-23 has surprised the Street. The numbers released by the National Statistical Office on Wednesday showed India’s gross domestic product (GDP) expanded by 7.2 per cent in 2022-23, compared to the advance estimate of 7 per cent. The better than expected final growth number was largely driven by the fourth quarter of the fiscal year, which recorded a growth rate of 6.1 per cent. At the disaggregated level, the agriculture sector expanded 4 per cent, while manufacturing registered a growth rate of just 1.3 per cent during the fiscal year. The clear outperformer was the trade,