Prime Minister Narendra Modi on Wednesday taking to Twitter asserted that the Indian economy’s annual growth rate of 7.2 percent underscores its resilience amidst global challenges. National Statistical Office (NSO) recently released data mentioning that India’s economy grew 6.1 percent in the fourth quarter of 2022-23. Moreover, It has pushed up the annual growth rate to 7.2 percent. The data revealed that the growth in the January-March period was higher than the 4.5 percent expansion in the previous October-December quarter of 2022-23.
“The 2022-23 GDP growth figures underscore the resilience of the Indian economy amidst global challenges,” PM Modi tweeted. “This robust performance along with overall optimism and compelling macro-economic indicators, exemplify the promising trajectory of our economy and the tenacity of our people,” his tweet further reads.
The growth propelled the Indian Economy to USD 3.3 trillion and set the stage for achieving the USD 5 trillion target in the next few years.
Apart from this, Finance Minister Nirmala Sitharaman’s anticipation for the Centre’s fiscal deficit came true as it narrowed to 6.4 percent of the GDP in 2022-2023 from 6.71 percent in FY22. The government earlier aimed to further bring down the fiscal deficit during the current financial year 2023-24 to 5.9 percent of the GDP.
ALSO READ | India’s GDP grows at 6.1 per cent in January-March 2023: Government data | DETAILS
ALSO READ | Centre’s fiscal deficit for 2022-2023 narrows to 6.4 pc of GDP | DEETS inside