India’s gross domestic product (GDP) growth moderated to 4.4 percent in the third quarter (October-December) of the fiscal year 2022-23, according to data released by the ministry of statistics and program implementation on Tuesday, February 28.
The slowdown in growth was compared to the GDP growth of 6.3 percent in the second quarter (July-September) of the current fiscal year.
The Reserve Bank of India (RBI) had forecast a GDP growth of 4.4 percent for the third quarter and 6.8 percent for full fiscal year 2022-23.
Also, according to the ministry, output in eight industries designated as core-sector industries recorded a growth of 7.8 percent in January this year, higher than the four percent growth recorded in the corresponding month of the previous year, but marginally higher than 7.4 percent in December 2022.