According to government data released on Thursday, the Indian economy expanded by 8.4 percent from October to December 2023, compared to the 4.3 percent growth recorded a year earlier. The National Statistical Office (NSO), in its second advance estimate of national accounts further indicates that the economy is projected to grow at a rate of 7.6 percent in the fiscal year 2023-24, in contrast to the revised estimate of 7 percent growth for the fiscal year 2022-23.

WHAT IS GDP

The output of the farm sector declined by 0.8 per cent during the quarter compared to a growth of 5.2 per cent a year ago.