In a big boost to the Narendra Modi government ahead of the final phase of the Lok Sabha elections, India’s economy grew by 7.8 per cent in the March quarter and the full year Gross Domestic Product (GDP) was revised to 8.2 per cent, government data revealed on Friday. The latest GDP numbers have been released days before the results of the Lok Sabha elections are to be announced. Prime Minister Narendra Modi, leading the ruling National Democratic Alliance (NDA) coalition, has expressed confidence of crossing the 400-mark in the 543-member Lok Sabha. ALSO READ: India’s FY24 fiscal deficit at 5.6%, lower than government’s target of 5.8%
What the GDP data says?
According to the data released by the National Statistical Office, the Indian economy grew by 7.8 per cent in the March quarter while the annual growth rate stood at 8.2 per cent. The growth in the fourth quarter was lower than the 8.6 per cent expansion in the December quarter.
The gross domestic product (GDP) had expanded 6.2 per cent in the January-March period of the 2022-23 fiscal year, the data read. The NSO in its second advance estimate of national accounts had pegged the country’s growth at 7.7 per cent for 2023-24. China has registered an economic growth of 5.3 per cent in the first three months of 2024.
Modi’s ‘100 days plan’ in NDA 3.0
In an interview to HT earlier this month, Prime Minister Modi had spelt out his vision if he is re-elected for a third term in office. “The big theme of our third term is about imparting momentum across sectors towards the realisation of this vision. From plans for the next five years to the plan for the first 100 days of the government, we are ready with many targets and are raring to go,” the prime minister had said. “I am committed to strengthening and structuring the GYANM model that empowers our Gareeb, Yuva, Annadata, Nari Shakti and Middle Class in such a way that they become the architects of Viksit Bharat,” he added.
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