India’s GDP will increase by 7% this fiscal year despite poor industrial performance: NSO 

According to the First Advance Estimates of National Income for the year issued by the National Statistical Office (NSO) on Friday, India’s real GDP is projected to rise by 7% in 2022–23, dropping from 8.7% in FY22. 

The advance estimate predicts that growth will slow to 4.5% in the second half after the GDP increased by an estimated 9.7% in the first six months. 

With over three months left in the year, the NSO’s forecast is based on sparse data and basically acts as input for the process of producing the Union Budget.

This news is written by Ms. Pujari Dharani, Research Assistant, All India Legal Forum.

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