Indian economy tops expectations, grows by 7.6% in Q2

New Delhi:  India retained the tag of the world’s fastest-growing major economy, with its GDP expanding by a faster-than-expected rate of 7.6 per cent in the July-September quarter on booster shots from government spending and manufacturing.

Gross domestic product, or GDP, growth of 7.6 per cent beat most estimates, including 6.5 per cent projected by the Reserve Bank of India (RBI).

The growth compares to 6.2 per cent in the same quarter last year and 7.8 per cent expansion in the preceding quarter, official data released on Thursday showed.

‘’The real GDP or GDP at constant (2011-12) prices in Q2 2023-24 is estimated to attain a level of Rs 41.74 lakh crore, as against Rs 38.78 lakh crore in Q2 2022-23, showing a growth of 7.6 per cent, compared to 6.2 per cent in Q2 2022-23”, data from Ministry of Statistics and Programme Implementation showed on Thursday, November 30.