Gross Domestic Product for Q12023-24 grows at 7.8%

The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation released estimates of Gross Domestic Product (GDP) for the April-June quarter (Q1) of 2023-24, both at Constant (2011-12) and Current Prices.

1. Real GDP or GDP at Constant (2011-12) Prices in Q1 2023-24 is estimated to attain a level of Rs 40.37 lakh crore, as against Rs 37.44 lakh crore in Q1 2022-23, showing a growth of 7.8% as compared to 13.1% in Q1 2022-23.
2. Nominal GDP or GDP at Current Prices in Q1 2023-24 is estimated at Rs 70.67 lakh crore, as against Rs 65.42 lakh crore in Q1 2022-23, showing a growth of 8.0% as compared to 27.7% in Q1 2022-23.
3. Quarterly estimates of Gross Value Added (GVA) at Basic Prices by kind of economic activity and expenditure components of GDP for the years 2021-22, 2022-23 and 2023-24 at Constant (2011-12) and Current Prices are given in Statements 1 to 4.
4. Percentage changes in the main indicators used in the estimation are given in the Annexure.