GDP grew by 8.4 percent in the third quarter of the current financial year

-


- Good outlook of manufacturing, mining and construction sector

- GDP was 4.3 percent in the corresponding period of last year : GDP is estimated to be 7.6 percent for the entire financial year 2023-24.

- 8.4 percent GDP shows the strength and capacity of the country's economy: Modi

New Delhi: In the third quarter of the current financial year 2023-24 i.e. from October to December, 2023, the country's GDP has increased by 8.4 percent. GDP growth in the third quarter was seen on the back of double-digit growth in the manufacturing sector and good performance in the mining and construction sectors.

According to the figures released by the National Statistical Office (NSO), the GDP was 4.3 percent in the period from October to December, 2022. A growth of 11.6 percent has been seen in the manufacturing sector in the third quarter of the current financial year. In the corresponding period last year, the manufacturing sector saw a decline of 4.8 percent.

In the third quarter of the current financial year, the mining sector has seen a growth of 7.5 percent. Which is 1.4 percent higher than the same period last year. In the third quarter of the current financial year, the growth rate of the construction sector has been 9.5 percent. The growth rate of this sector remained the same in the same period a year ago.

However, in the third quarter, the growth of the agriculture sector has declined by 0.8 percent. However, the growth rate of this sector was 5.2 percent in the same period last year. NSO has estimated GDP at 7.6 percent for the entire financial year 2023-24.

Regarding the GDP figures, Prime Minister Modi has said that the impressive GDP of 8.4 percent in the third quarter shows the strength and potential of the Indian economy. He further said that our efforts are to make the economy grow faster so that the lives of 1.4 billion citizens can be improved and the dream of a developed India can be realized.

Meanwhile, core sector figures were also announced today. Growth in eight important core sectors slowed to 3.6 percent in January, a 15-month low.

According to data released by the government, the growth of eight core sectors decelerated due to weak performance in refinery products, fertilisers, steel and power sectors. It is worth mentioning that the growth rate of eight core sectors coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity was 4.9 percent in December, 2023. In January, 2023, this growth rate was 9.7 percent.

Fiscal deficit as of January 63.6 percent of annual target

In the current financial year, by the end of January, the government's fiscal deficit has reached 11 lakh crore rupees, which has reached 63.6 percent of the annual target, according to the figures released by the government. In the current fiscal year 2023-24, the fiscal deficit of the government is estimated to be Rs 17.35 lakh crore.

Which is 5.8 percent of GDP. The central government has spent 33.54 lakh crore rupees by the end of January while its income has reached 22.52 lakh crore rupees. That is, the financial deficit of the government has become 11 lakh crore rupees.

Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro...
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja...
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se...
Read more