Updated March 1st, 2024 at 00:59 IST

Higher GDP Growth to Enhance People's Role For 'Viksit Bharat': PM Modi

PM Modi said that the government will push for a even higher economic growth rate to empower the citizens to achieve a better life.

Reported by: Business Desk
PM Modi | Image: X/ BJP4India
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PM on India’s GDP: Hailing India’s growth rate of 8.4 per cent in the third quarter of current financial year, Prime Minister Narendra Modi said that the recent GDP data exhibits the strength of country's economic strength and its potential to achieve more. PM Modi said that the government will push for a even higher economic growth rate to empower the citizens to achieve a better life and contribute towards the ambition of Vikisit Bharat.

In the data released on Thursday evening, India's economy showcased a Q3 growth rate of 8.4 per cent, reaffirming its position as the world's fastest-growing major economy. The Ministry of Statistics & Programme Implementation (MOSPI) announced the figures, citing a stellar performance in the manufacturing and construction sectors as key drivers behind the surge.

The latest data release from the National Statistical Office (NSO) underlines India's economic momentum, with the third consecutive quarter surpassing the 7 per cent mark. The manufacturing sector notably soared by 11.6 per cent, while the construction sector exhibited a commendable growth rate of 9.5 per cent.

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The GDP data for the previous quarter was revised upwards to 8.1 per cent and 8.2 per cent for the first quarter.

In its second advance estimate, the NSO projected India's growth for the fiscal year 2023-24 at 7.6 per cent, underscoring sustained economic expansion. The agricultural sector contributed positively, recording a growth rate of 3.8 per cent.

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Published February 29th, 2024 at 19:11 IST