GDP growth dips to 6.3% in second quarter : India remains fastest-growing major economy

 India remained the fastest-growing major economy in the world during the July-September quarter though its GDP growth slowed down to 6.3 per cent mainly due to poor performance by the manufacturing and mining sectors as well as due to the moderating of a favourable base effect.

“Real GDP or GDP at Constant Prices (2011-12) in Q2 2022-23 is estimated at Rs 38.17 lakh crore, as against Rs 35.89 lakh crore in Q2 2021-22, showing a growth of 6.3 per cent as compared to 8.4 per cent in Q2 2021-22,” the National Statistical Office said.

Meanwhile, the Centre’s fiscal deficit at the end of October touched 45.6 per cent of the full-year budget estimate, according to the Controller General of Accounts (CGA) on Wednesday. In actual terms, the fiscal deficit — the difference between expenditure and revenue — was Rs 7.58 lakh crore during April-October 2022-23.