India’s GDP growth slows to 6.3% in July-September quarter

India’s gross domestic product (GDP) for the July-September quarter (Q2) of the ongoing financial year 2022-23 slowed to 6.3 per cent, as per provisional estimates released by National Statistical Office (NSO) on Wednesday. 

The GDP had expanded by 8.4 per cent in the corresponding quarter of 2021-22.The Reserve Bank of India (RBI) in its report earlier this month projected a growth rate between 6.1-6.3 per cent in Q2.The GDP for the preceding April-June quarter (Q1) of 2022-23 saw a growth of 13.5 per cent.As per the government data, the gross value added (GVA) at basic price at constant terms during the September quarter rose 5.6 per cent. The GVA at basic price at current prices rose 16.2 per cent in Q2 2022-23.