Recent Economic Trends
Indian Economy grows 7.8%
- India’s Gross Domestic Product (GDP) and the Gross Value Added (GVA) grew at 7.8% in the first quarter of the financial year 2023-24 (April-June period).
- Agriculture, forestry and fishing GVA grew 3.5%
- Financial, real estate and professional services GVA grew 12.2%.
- GVA from trade, hotels, transport, communications, and services related to broadcasting rose 9.2%.
- GVA from public administration, defense, and other services, as well as the employment intensive construction sector, rose 7.9% each.
About GDP and GVA
- GDP and GVA are the two main ways to ascertain the country’s economic performance.
- The GDP measures the monetary measure of all “final” goods and services produced in a country in a given period.
- The GVA calculates the national income from the supply side.
