GDP growth may beat 7% this FY : CEA

GDP growth may beat 7% this FY : CEA

Why in news :

  • Chief Economic Advisor on Thursday expressed hope that GDP growth for the current fiscal will exceed the projected 7% in view of the expected revision of high frequency data.

  • On Tuesday, the National Statistical Office’s second advance estimate maintained its January growth projection of 7%.
  • Real GDP or GDP at constant prices in the year 2022­23 is estimated at ₹159.71 lakh crore, as against the first revised estimate for 2021­22 of ₹149.26 lakh crore.
  • The growth in real GDP during 2022­23 is estimated at 7%, compared with 9.1% in 2021­22, the NSO had said.
  • Growth slowed to 4.4% in the October-December quarter, mainly due to a contraction in the manufacturing sector, as per the data released by the NSO.

Syllabus : Prelims + Mains; GS3 – Economy