In response to the latest government data revealing a substantial surge in India’s GDP growth to 8.4% in the October-December quarter of 2023-24, Prime Minister Narendra Modi expressed optimism about the nation’s economic trajectory. Taking to social media platform X, PM Modi highlighted the resilience and potential of the Indian economy.
The Prime Minister hailed the robust 8.4% GDP growth in Q3 2023-24, emphasizing its significance in showcasing the strength and potential of India’s economy. He underscored the government’s unwavering commitment to fostering rapid economic growth, aimed at improving the lives of the country’s 140 crore citizens.
The latest figures released by the National Statistical Office (NSO) underscored the remarkable growth momentum, with GDP expanding by 8.4% in the October-December quarter of 2023, compared to 4.3% in the corresponding period of the previous year.
Notably, the manufacturing sector witnessed a notable turnaround, with output growing by 11.6% in the third quarter of the fiscal year, in contrast to a contraction of 4.8% in the same period last year.
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Government data further revealed optimistic projections for the economy, with real GDP estimated to reach ₹172.90 lakh crore in 2023-24, reflecting a growth rate of 7.6% compared to the previous fiscal year. Additionally, GDP at current prices in Q3 2023-24 stood at ₹75.49 lakh crore, registering a growth rate of 10.1% over the same period last year.
The NSO’s revised estimates also demonstrated an upward revision in GDP growth for the first and second quarters of the fiscal year, reaffirming the economy’s robust performance amidst challenging global conditions.
India’s economy has demonstrated remarkable resilience and momentum, expanding by 8.2% in April-December 2023 compared to the previous year, signifying sustained growth momentum and economic stability.
Prime Minister Modi’s acknowledgment of India’s strong economic performance reflects the government’s commitment to fostering inclusive growth and prosperity for all segments of society.
