Key takeaways from GDP data for Financial Year 2022-23

Key takeaways from GDP data for Financial Year 2022-23
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1. Growth in real GDP during 2022-23 is estimated at 7.2 percent as compared to 9.1 percent in 2021-22.

2. Q4 GDP estimated at ₹43.62 lakh crore, as against ₹41.12 lakh crore in Q4 2021-22, showing a growth of 6.1 percent.

3. India’s manufacturing sector saw a sharp slowdown in growth to 1.3% in FY23 versus 11.1% in the previous fiscal year.

4. GVA in agriculture, forestry and fishing saw a growth of 4% in FY23, rising from 3.5% in FY22.

5. Financial, real estate and professional services recorded a growth of 7.1% versus 4.7% in FY22.

6. Construction sector also slowed down to 10% growth in FY23 versus 14.8% in FY22.

7. India’s per capital national income (net) rises to ₹98,374 crore in FY23, as against ₹92,583 crore in FY22.

8. Imports of capital goods surged by almost 20% in FY23 from a year earlier and domestic production remained good, signaling improved private sector capital formation.,,

Gouri Pedhabudhi

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