The Indian economy has grown by 6.3% in the July to September quarter, down from explosive growth of 13.5% in the previous quarter, as distortions caused by Covid lockdowns faded, but the Reserve Bank of India (RBI) raised repo rates to combat inflationary pressure, official data revealed .
- Last year, the GDP growth rate was 8.4% in the July-September quarter.
- The National Statistical Office (NSO), under the Ministry of Statistics and Programme Implementation, released the data on the quarterly estimates of the July-September period of the current financial year.
- The growth rate was above the 6.2% forecast by economists for the quarter, the second of India's 2022/23 financial year, in a poll.