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The February data said the central government’s fiscal deficit had reached 67.8 per cent of the full-year target at the end of January due to higher expenditure and lower revenue receipts.
In the first advance estimates of national income for FY23 in early January, the NSO projected that the Indian economy would grow at 7 per cent in 2022-23, as against 8.7 per cent in the previous fiscal, mainly due to the poor performance of manufacturing area due to
In the previous quarter ending September 30, 2022 (Q2 FY23), India’s GDP grew by 6.3 per cent.
Meanwhile, India’s GDP growth for 2023-24 was projected at 6.5 per cent, according to the RBI’s annual report for 2022-23 released on Tuesday, which, among other things, reflected softening global commodity and food prices and Prospects for a good rabi crop were included. It added that domestic economic activity faces challenges from a gloomy global outlook going forward, but dividends are expected on resilient domestic macroeconomic and financial conditions.