Robust 8.4% Q3 GDP growth shows strength of Indian economy: PM Modi

PM Modi on Thursday said that the remarkable 8.4% GDP (Gross Domestic Product) growth in the October-December quarter of the financial year 2023-24 shows the strength and potential of the Indian economy.

He reiterated that the efforts would continue to bring fast economic growth to help 140 crore Indians lead a better life and create a developed India or vikasit Bharat.

Taking to Twitter, PM Modi said, "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!"

According to the data released by the National Statistical Office (NSO), India recorded a GDP growth of 8.4% in Q3 2023-24, outshining all estimates.

The remarkable GDP growth in the third quarter was supported by double-digit growth in the manufacturing sector at 11.6% and strong growth in the construction sector at 9.5%.

The government has pegged GDP growth for 2023-24 at 7.6%. "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 (FRE) of GDP for the year 2022-23 of ₹160.71 lakh crore. The GDP growth rate during 2023-24 is estimated at 7.6% as compared to the growth rate of 7.0% in 2022-23," the statistics ministry said.

In the July-September quarter, the Indian GDP grew at 7.6%. The economy grew at 7.8% in the April-June quarter.