India’s economy registered a robust growth of 7.8% in the March quarter, pushing the annual growth rate to 8.2%, according to official data released on Friday.
The growth in the January-March period, though slightly lower than the 8.6% expansion recorded in the December quarter, marks a significant improvement compared to the same period last year. In the January-March period of the 2022-23 fiscal year, the gross domestic product (GDP) expanded by 6.2%.
The NSO’s data reveals that the economy expanded by 8.2% in the 2023-24 fiscal year, up from 7% in 2022-23. This figure also slightly surpasses the NSO’s second advance estimate, which had pegged the country’s growth at 7.7% for the 2023-24 fiscal year.
In comparison, China registered an economic growth of 5.3% in the first three months of 2024, highlighting India’s stronger economic performance during the same period.
(This is a developing story. More details will be added)