India's GDP growth rate slows to 6.3% in Q2 FY 23 from 8.4% in same period of previous year

New Delhi, November 30, 2022

India's gross domestic product (GDP) growth rate slowed down to 6.3 per cent in the second quarter of 2022-23 (Q2 FY23), ended September, as compared to 8.4 per cent in the same period of the previous year.

However, the growth rate in Q2 this year was less than half of the 13.5% recorded in the first quarter.

A press release from the Ministry of Statistics and Programme Implementation said real GDP, or GDP at Constant (2011-12) Prices, in Q2 2022-23 is estimated at ₹38.17 lakh crore, as against ₹35.89 lakh crore in Q2 2021-22, showing a growth of 6.3% as compared to 8.4% in Q2 2021-22.

Nominal GDP or GDP at Current Prices in Q2 2022-23 is estimated at ₹65.31 lakh crore, as against ₹56.20 lakh crore in Q2 2021-22, showing a growth of 16.2% as compared to 19.0% in Q2 2021-22.

GDP at Constant (2011-12) Prices in April-September 2022-23 (H1 2022-23) is estimated at ₹75.02 lakh crore as against ₹68.36 lakh crores during the corresponding period of previous year, showing a growth of 9.7% in H1 2022-23 as against 13.7% during the same period last year.

GDP at Current Prices in H1 2022-23 is estimated at ₹130.26 lakh crore as against ₹107.47 lakh crores during the corresponding period of previous year, showing a growth of 21.2% in H1 2022-23 as against 25.0% during the same period last year, the release added.

NNN