India’s economy grew 6.3 per cent in the second quarter of the current fiscal, official data released on Wednesday showed. The gross domestic product (GDP) expanded by 8.4 per cent in the July-September quarter of 2021-22, according to data released by the National Statistical Office (NSO).
In the April-June quarter this fiscal, the GDP growth rate was 13.5 per cent, and analysts had projected it to expand at half that rate in the second-quarter.
According to rating agency ICRA, the GDP was likely to grow at 6.5 per cent while State Bank of India, in its report, projected the growth rate at 5.8 per cent for July-September 2022.
Earlier this month, in an article published in the Reserve Bank of India (RBI) bulletin, the GDP growth was pegged at 6.1-6.3 per cent in the second quarter of this fiscal year.
China registered an economic growth rate of 3.9 per cent in July-September 2022.
Among sectors, agricultural output rose 4.6 per cent manufacturing fell 4.3 per cent. The construction sector saw a 6.6 per cent annual increase in activity.
With agency inputs