Tag: GDP expanded 6.1% in 2022-23’s last quarter

Current Trends in Indian Economy GDP expanded 6.1% in 2022-23’s last quarter India’s GDP growth accelerated to 6.1% in the January to March 2023 quarter, the economy’s expansion in 2022-23 to 7.2% according to the provisional national income data released by the National Statistical Office (NSO) Note GDP is the final value of the goods and services produced within the geographic boundaries of a country during a specified period of time (normally a year). India is the 5th largest economy in terms of GDP ranking of countries. Fiscal deficit narrows to 6.4% The Centre’s fiscal deficit narrowed to 6.4% of the GDP in 2022-2023. The Controller General of Accounts (CGA) said the fiscal deficit in absolute terms was Rs.17,33,131 crore (provisional). Note  Fiscal deficit = Total Expenditure – Total revenue (Excluding the borrowings).