New Delhi, May 31: Beating market estimates, India’s gross domestic product (GDP) logged 7.8% year-on-year growth in January-March quarter (Q4) of the financial year 2023-24 on the back of strong performance by sectors such as manufacturing and construction.

“Real GDP or GDP at constant prices in Q4 of 2023-24 is estimated at Rs 47.24 lakh crore, against Rs 43.84 lakh crore in Q4 of 2022-23, showing a growth rate of 7.8%,” said Ministry of Statistics & Programme Implementation (MoSPI) in a press note on Friday.

For the full financial year ended March 31, 2024, the GDP growth is estimated at 8.2% as compared to the growth rate of 7% in FY 2022-23.

“Real GDP or GDP at constant prices is estimated to attain a level of Rs 173.82 lakh crore in the year 2023-24, against the First Revised Estimates (FRE) of GDP for the year 2022-23 of Rs 160.71 lakh crore. The growth rate in real GDP during 2023-24 is estimated at 8.2% as compared to 7.0% in 2022-23,” MoSPI said.

UNI