Govt to release second advance GDP estimate for 2022-23 on Tuesday

New Delhi: Ministry of Statistics and Programme Implementation (MoSPI) will release the second advance estimate of the Gross Domestic Product (GDP) for 2022-23 along with December quarter data on Tuesday evening. The ministry will also release the revised estimate of economic growth for 2021-22 which was estimated at 8.7 percent in May last year. As per the first advance estimates released last month, the GDP growth was pegged at seven percent for 2022-23.

RBI had projected the real GDP growth for 2022-23 at 6.8%

The data assumes significance since in December 2022, the Reserve Bank of India lowered the country's GDP growth forecast to 6.8 percent for the current fiscal. It was cut from the earlier projection of seven percent. RBI had projected the real GDP growth for 2022-23 at 6.8 percent, with the third quarter and fourth quarter growth at 4.4 percent and 4.2 percent, respectively. It had trimmed the growth projection for 2022-23 for the third time in December last year.

ADB projected Indian economy to expand by 7%

The Asian Development Bank has projected the Indian economy to expand by seven percent while the International Monetary Fund (IMF) has pegged the growth at 6.8 percent in 2022-23.

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