HomeEconomyIndia EconomyIndia’s GDP growth slows to 4.4% in the third quarter as compared...

India’s GDP growth slows to 4.4% in the third quarter as compared to the 6.3% in the previous one

According to Zee Business research, the economy is likely to have expanded 4.6 per cent in the period – the third quarter of the current financial year.

GDP at Base (2011-12) Prices in Q3 2022-23 is estimated at Rs 40.19 lakh crore, against Rs 38.51 lakh crore in Q3 2021-22, proving a growth of 4.4%. GDP at Current Prices in the third quarter 2022-23 is estimated at Rs 69.38 lakh crore, as against Rs 62.39 lakh crore in Q3 2021-22, giving a growth of 11.2%.

Real GDP or gross domestic product (GDP) at base (2011-12) prices in the year 2022-23 is estimated to reach a level of Rs 159.71 lakh crore, as against the First revised estimate of GDP for the year 2021-22 of Rs 149.26 lakh crore.

RBI had estimated the real GDP growth for 2022-23 at 6.8 per cent, with Q3 and Q4 ‘s growth at 4.4 per cent and 4.2 per cent, respectively. It had trimmed the growth projection for 2022-23 for the third time in December 2022.

Although GDP growth usually moderates in the third quarter, the bigger-than-projected drop has been triggered by high inflation, which forced the RBI to maintain a tighter monetary policy and hike key rates multiple times since May 2022.

Another possible factor that could be lowering India’s quarterly GDP growth is the fading of the pandemic-induced base effect, which had contributed to higher growth in FY22.

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