India Economy Logs Double-Digit Growth

India's economy logged a double-digit growth in the quarter ended June, data published by the National Statistical Office showed Wednesday.

Gross domestic product advanced 13.5 percent in three months to June but slower than the 15.2 percent expected growth. In the same period last year, GDP had expanded 20.1 percent.

The Reserve Bank of India had forecast the economy to expand at 7.2 percent in 2022-23.

Data showed that the gross value added climbed 12.7 percent in the June quarter compared to 18.1 percent in the previous year.

Another official data released earlier on Wednesday showed that core sector output growth eased to 4.5 percent in July from 13.2 percent in June.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Integrated energy company Chevron reported Friday that profit for the fourth quarter increased 25 percent from last year, reflecting 17 percent revenue growth amid higher realizations and higher margins on refined product sales. Adjusted earnings per share missed analysts' estimates, while quarterly revenues topped it. Reno, Nevada-based ZLINE Kitchen and Bath has expanded its recall of gas ranges citing serious risk of injury or death from carbon monoxide poisoning, the U.S. Consumer Product Safety Commission announced. The recall now includes about 30,000 units of ZLINE gas ranges, including about 28,000 units... The Food and Drug Administration's independent advisory committee unanimously recommended replacing the current original COVID vaccines used in the U.S. for primary shots with new bivalent omicron shots authorized as boosters, reports said. The committee also considered the proposal for annual COVID vaccination, however, didn't vote on it.
Follow RTT