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Indian economy’s strength:  PM Modi hails 8.4% GDP growth

March 1, 2024
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**EDS: VIDEO GRAB VIA @narendramodi** New Delhi: Prime Minister Narendra Modi digitally addresses the G20 Digital Economy Ministers' Meeting, on Saturday, Aug. 19, 2023. (PTI Photo)(PTI08_19_2023_000048B)

New Delhi: Prime Minister Narendra Modi on Thursday said  GDP growth of 8.4 percent in the third quarter shows the strength of the Indian economy and its potential.

Prime Minister asserted that the government will continue to make efforts to keep fast economic growth and help 140 crores Indians lead a better life and create a ‘Viksit Bharat’.

“Robust 8.4% GDP growth in Q3 2023-24 shows the strength of the Indian economy and its potential. Our efforts will continue to bring fast economic growth which shall help 140 crore Indians lead a better life and create a Viksit Bharat!” the prime minister posted on X.

The latest government data showed that the GDP grew by 8.4 percent in the October-December quarter in 2023, against 4.3 percent in the October-December 2022 quarter, according to the data released by the National Statistical Office (NSO).

The manufacturing sector’s output, as per the gross value added in the third quarter of this fiscal, grew by 11.6 percent compared to a contraction of 4.8 percent in the year-ago period.

“Real GDP or GDP at Constant (2011-12) Prices in the year 2023-24 is estimated to attain a level of ₹172.90 lakh crore, against the first revised estimates of GDP for the year 2022-23 of ₹160.71 lakh crore. The growth rate of GDP during 2023-24 is estimated at 7.6 percent compared to the growth rate of 7.0 percent in 2022-23,” the government statement added.

The GDP at current prices in Q3 of 2023-24 is estimated at ₹75.49 lakh crore compared to ₹68.58 lakh crore in Q3 of 2022-23, showing a growth rate of 10.1 percent, it stated.

The NSO revised downward the GDP growth for 2022-23 to 7 percent from 7.2 percent estimated earlier.

The NSO has also revised GDP estimates for the first and second quarters of this fiscal to 8.2 and 8.1 percent from 7.8 percent and 7.6 percent, respectively.

The economy has expanded 8.2 percent in April-December 2023 compared to 7.3 percent a year ago.

Pic school

Schools to reopen on Mar 4 after winter vacation

Monitor News Bureau

Srinagar, Feb 29: The government Thursday said that the schools in Kashmir division shall commence class work from March 4 instead of March 1 given inclement weather.

Director of School Education Kashmir (DSEK) Tassaduq Hussain Mir in an order said, “Given the weather advisory issued by the Meteorological Department predicting heavy snowfall in the valley, it is hereby ordered that classwork in all government and recognized private schools of the Kashmir Division up to the higher secondary level shall commence from 4th March 2024.

(Except for the headline, this story has not been edited by The Kashmir Monitor staff and is published from a syndicated feed.)


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