Recently, the National Statistical Office (NSO), Ministry of Statistics and Program Implementation released the estimates of Gross Domestic Product (GDP) at constant (2022-23) and current prices for the first quarter (April-June) of 2022-23.

• In the first quarter (April-June) of the current financial year, the country’s economy has registered a growth of 13.5 percent. However, this growth has been around 3 per cent lower than the estimate expressed by the RBI earlier this month.
• The GDP growth rate in the April-June quarter of the last financial year (2021-22) was 20.1 per cent.
• At the same time, real GDP at constant prices (2011-12) is estimated at Rs 36.85 lakh crore in the first quarter of 2022-23. It was Rs 32.46 lakh crore in the same quarter last year.
• Gross Value Added (GVA) refers to the total value of goods and services in a country’s territory over a given period of time.Gross value added (GVA) grew 12 per cent to Rs 34.41 lakh crore in the April-June quarter this year.