NSO forecast India’s real GDP at nearly ₹160 lakh cr in 2022-23

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National Statistical Office (NSO)
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The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) is releasing in this Press Note the Second Advance Estimates (SAE) of National Income, 2022-23, Quarterly Estimates of GDP for the quarter October-December (Q3), 2022-23 along with its expenditure components

Real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in the year 2022-23 is estimated to attain a level of ₹ 159.71 lakh crore, as against the First Revised Estimate of GDP for the year 2021-22 of ₹ 149.26 lakh crore. The growth in GDP during 2022-23 is estimated at 7.0 percent as compared to that of 9.1 percent in 2021-22.

Nominal GDP or GDP at Current Prices in the year 2022-23 is estimated to attain a level of ₹ 272.04 lakh crore, as against ₹ 234.71 lakh crore in 2021-22, showing a growth rate of 15.9 percent.

GDP at Constant (2011-12) Prices in Q3 2022-23 is estimated at ₹40.19 lakh crore, as against ₹38.51 lakh crore in Q3 2021-22, showing a growth of 4.4 percent. GDP at Current Prices in Q3 2022-23 is estimated at ₹69.38 lakh crore, as against ₹62.39 lakh crore in Q3 2021-22, showing a growth of 11.2 percent.

Private Final Consumption Expenditure at Current Prices for Clothing and footwear.

Year Private Final Consumption Expenditure (₹ crore) Percentage Share
2011-12 3,11,547 6.3
2012-13 3,53,906 6.3
2013-14 4,60,752 7.1
2014-15 5,04,961 6.9
2015-16 5,82,256 7.1
2016-17 6,14,007 6.7
2017-18 6,54,033 6.5
2018-19 7,11,433 6.3
2019-20 7,30,257 5.9
2020-21 6,60,992 5.4
2021-22 8,74,322 6.1

These insights are based on a forecast from National Statistical Office

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