NSO’s first advance estimate of national income, India’s FY23 real GDP and GVA growth estimated at 7.0% and 6.7% respectivel
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Jan 07, 2023
FY23 GDP advance estimate - The anticipated moderation
As per the NSO’s first advance estimate of national income, India’s FY23 real GDP and GVA growth are estimated at 7.0% and 6.7% respectively. The projected GDP growth stands marginally higher than RBI and QuantEco’s estimate of 6.8%. Nominal GDP, which becomes a critical input for Budget arithmetic, is estimated at Rs 273.1 lakh cr, translating into a robust growth of 15.4% on an annualized basis as compared to the budgeted growth estimate of 11.1% for FY23, giving the Government some fiscal headroom