NSO projects India's real GDP at nearly ₹160 lakh cr in 2022-23

01 Mar '23

2 min read

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India’s real gross domestic product (GDP) or GDP at constant (2011-12) prices in the year 2022-23 is estimated to attain a level of ₹159.71 lakh crore, as against the first revised estimate of GDP for the year 2021-22 of ₹149.26 lakh crore, as per the National Statistical Office (NSO). The growth in GDP during 2022-23 is estimated at 7.0 per cent as compared to that of 9.1 per cent in 2021-22.

Nominal GDP or GDP at current prices in the year 2022-23 is estimated to attain a level of ₹272.04 lakh crore, as against ₹234.71 lakh crore in 2021-22, showing a growth rate of 15.9 per cent, according to a press release by the NSO, ministry of statistics and programme implementation (MoSPI).

GDP at constant (2011-12) prices in the third quarter (Q3) of 2022-23 is estimated at ₹40.19 lakh crore, as against ₹38.51 lakh crore in Q3 2021-22, showing a growth of 4.4 per cent. GDP at current prices in Q3 2022-23 is estimated at ₹69.38 lakh crore, as against ₹62.39 lakh crore in Q3 2021-22, showing a growth of 11.2 per cent.

Private final consumption expenditure at current prices for clothing and footwear was ₹8,74,322 crore for 2021-22 with a 6.1 per cent share. Moreover, private final consumption expenditure at constant (2011-12) prices for clothing and footwear was ₹4,89,781 crore for 2021-22 with a 23.7 per cent change over the previous year.

Fibre2Fashion News Desk (NB)

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