Surpassing even the most optimistic projections, the Indian economy grew at a robust 8.2 per cent in the just concluded financial year (2023-24), as per the provisional estimates released by the National Statistical Office. After growing at 0.4 per cent in the third quarter, the sector grew at a mere 0.6 per cent in the fourth quarter, indicating the continuing impact of last year’s unfavourable monsoon. Manufacturing, however, fared better, even though it has fallen from the highs observed in the second and third quarters. Value added by the entire economy has fallen from 8.3 per cent in the first quarter to 6.3 per cent in the fourth quarter. Net taxes, in fact, grew at 31.2 per cent in the third quarter and 22.2 per cent in the fourth quarter.

Source: Indian Express June 01, 2024 09:32 UTC