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India Records Double Digit Growth In Q1 FY23

Published on September 01, 2022
Current Context: India’s Q1 GDP of FY23 grows by 13.5%.
India Records Double Digit Growth In Q1 FY23
  • India's Gross Domestic Product (GDP) in the first quarter (April-June) of the fiscal year grew by 13.5% as per the data released by the National Statistical Office (NSO).
  • The GDP grew at a rate of 20.1% during the same period last year.
  • However, it is less than the estimation made by the RBI in the latest Monetary Policy Meeting where the RBI said that the GDP growth rate was likely to be around 16.2% in the first quarter of this fiscal year.
  • India's fiscal deficit stood at Rs 3.41 lakh crore in April-July, accounting for 20.5% of the full-year target.
  • A Fiscal Deficit indicates the total borrowing that is needed by the government.

Question:

Q.1 What was the GDP growth rate of India in Q1 of FY23?
a. 13.5%
b. 21.5%
c. 16%
d. 11.5%
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