29-Feb-2024 07:12 PM
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New Delhi, Feb 29 (Reporter) Led by double digit growth in the construction activity and gained momentum in the manufacturing sector, the Indian economy is estimated to grow at 7.6 per cent in 2023-24 over 7 per cent growth registered in the last financial year, according to data release by the government today.
The GDP has registered a growth of 8.4 per cent in the third Quarter October-December of 2023-24, the official release by Ministry of Statistics and Program Implementation said.
“Double digit growth in the construction sector of 10.7 per cent followed by good growth rate of manufacturing sector sector at 9.5 per cent have boosted the GDP growth in 2023-24,” an official release said.
In the 3rd Quarter, Manufacturing sector improved and registered double digit growth of 11.6 per cent while construction sector grew at 9.5 per cent.
The Real GDP or GDP at constant prices (2011-12) prices in the year 2023-24 is estimated to attain a level of Rs 172.90 lakh crore against the First Revised Estimate of GDP for the year 2022-23 of Rs 160.71 lakh crore thereby registering a growth of 7.6 per cent during 2023-24 as compared to 7 per cent in the previous fiscal.
The growth rates of Primary sector (comprising Agriculture, Livestock, Forestry, Fishing and Mining & Quarrying), Secondary sector (comprising Manufacturing, Electricity, Gas, Water Supply & Other Utility Services, and Construction) and Tertiary sector (Services) have been estimated as 4.4 per cent, 2.1 per cent and 10.0 per cent respectively in 2022-23 as against growth rates of 4.8 per cent, 12.7 per cent and 9.2 per cent respectively in the previous years...////...