The growth challenge

Higher growth next year would require policy work

Business Standard Editorial Comment Mumbai

Inflationary pressures easing as global prices come down

The national income data, released by the National Statistical Office (NSO) on Tuesday, was awaited for a variety of reasons. It had the gross domestic product (GDP) estimates for the third quarter (October-December 2022) of this fiscal year. The headline year-on-year (YoY) growth numbers for the first two quarters of this fiscal year were influenced by a weak base as economic recovery in the first half of 2021-22 was constrained by the second wave of the pandemic. Thus, the third-quarter number was expected to indicate the real strength of the economy. Most analysts expected the headline growth number to be lower than the first and second quarters. As the NSO numbers showed, the economy expanded by 4.4 per cent during the quarter, which was in line with the Reserve Bank of India’s (RBI’s) projection.
Besides, the data release had the second advance estimates of national income for 2022-23, which pegged GDP growth at 7 per cent. Additionally, the grow

Also Read

Q1 GDP growth misses estimates despite low base; govt spending subdued

GDP growth may have beaten MPC's estimate of 6.3% in Q2: Economists

Robust activity in services sector holds up 6.3% GDP growth in Q2

Indian GDP pegged to grow at 7% in FY23: NSO's advance estimates

What is low base effect?

Employment and participation

Fair share

The council and caste

Heat alert

Disclosure gains

First Published: Feb 28 2023 | 9:43 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers. Already a BS Premium subscriber?LOGIN NOW

Register to