GDP at constant (2011-12) prices in Q3 of 2023-24 is estimated at 43.72 lakh crore INR, showing a quarterly GDP growth rate of 8.36 percent over the corresponding quarter of the previous year. GDP growth rate was 4.26% in the year-earlier quarter and 8.08% in the preceding one.
Since 2012-13, India attained highest growth of 22.63 percent in Q1 of 2021-22 over the Q1 of FY20 when the growth rate was lowest ever of -23.13%.
Quarterly GVA at Basic Price at Constant (2011-12) Prices for 2023-24 (Q3) is estimated at 39.85 lakh crore, showing a growth of 6.50 percent over the corresponding quarter of the previous year.
GVA growth rates of Agriculture & allied, Industry and Services sector are -0.82%, 10.43%, and 7.00%, respectively. The 'Manufacturing' has registered the highest growth rate of 11.55% percent in Q3 of 2023-24 over Q1 of 2022-23. On the other hand, the 'Agriculture,forestry & fishing' sector has seen the negative growth rate of -0.82 percent.
Nominal GDP growth, a measure of GDP without adjusting for inflation, stands at 10.07% in Q3 of 2023-24. The lowest quarterly nominal growth rate of -21.36% was recorded in FY20 (Q1).
| Year | GDP growth at 2011-12 prices | GDP growth at current prices | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Q1 | Q2 | Q3 | Q4 | Total | Q1 | Q2 | Q3 | Q4 | Total | |
| 2023-24 | 8.22 | 8.08 | 8.36 | - | 8.22 | 8.46 | 9.62 | 10.07 | - | 9.40 |
| 2012-13 | 4.87 | 7.49 | 5.38 | 4.30 | 5.46 | 13.20 | 16.14 | 13.52 | 12.69 | 13.82 |
| 2013-14 | 6.45 | 7.34 | 6.53 | 5.34 | 6.39 | 10.90 | 13.97 | 14.62 | 12.31 | 12.97 |
| 2014-15 | 8.02 | 8.70 | 5.92 | 7.11 | 7.41 | 13.60 | 13.69 | 9.03 | 8.29 | 10.99 |
| 2015-16 | 7.59 | 8.03 | 7.20 | 9.09 | 8.00 | 11.29 | 9.89 | 9.16 | 11.50 | 10.46 |
| 2016-17 | 8.68 | 9.67 | 8.58 | 6.29 | 8.26 | 12.22 | 11.87 | 11.46 | 11.55 | 11.76 |
| 2017-18 | 6.11 | 5.32 | 6.67 | 8.93 | 6.80 | 10.14 | 10.74 | 11.98 | 11.20 | 11.03 |
| 2018-19 | 7.50 | 6.46 | 6.23 | 5.72 | 6.45 | 13.98 | 12.00 | 12.30 | 4.72 | 10.59 |
| 2019-20 | 5.10 | 4.30 | 3.26 | 2.94 | 3.87 | 8.36 | 4.56 | 5.38 | 7.24 | 6.37 |
| 2020-21 | -23.13 | -5.84 | 1.78 | 3.29 | -5.78 | -21.36 | -2.87 | 6.60 | 11.83 | -1.24 |
| 2021-22 | 22.63 | 9.87 | 5.53 | 4.45 | 9.69 | 32.98 | 19.01 | 14.51 | 13.30 | 18.85 |
| 2022-23 | 12.81 | 5.46 | 4.26 | 6.18 | 6.99 | 25.52 | 14.95 | 9.41 | 9.19 | 14.21 |
| Year | GDP (crore INR) at 2011-12 prices | GDP (crore INR) at current prices | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Q1 | Q2 | Q3 | Q4 | Total | Q1 | Q2 | Q3 | Q4 | Total | |
| 2023-24 | 4,090,545 | 4,185,636 | 4,372,011 | - | 12,648,192 | 7,049,699 | 7,091,219 | 7,549,059 | - | 21,689,977 |
| 2011-12 | 2,102,863 | 2,042,870 | 2,225,135 | 2,365,461 | 8,736,329 | 2,043,496 | 2,029,469 | 2,244,852 | 2,418,511 | 8,736,329 |
| 2012-13 | 2,205,223 | 2,195,946 | 2,344,767 | 2,467,082 | 9,213,017 | 2,313,203 | 2,356,953 | 2,548,378 | 2,725,479 | 9,944,013 |
| 2013-14 | 2,347,396 | 2,357,079 | 2,497,997 | 2,598,898 | 9,801,370 | 2,565,374 | 2,686,203 | 2,921,070 | 3,060,874 | 11,233,522 |
| 2014-15 | 2,535,751 | 2,562,242 | 2,645,947 | 2,783,733 | 10,527,674 | 2,914,393 | 3,053,982 | 3,184,917 | 3,314,667 | 12,467,959 |
| 2015-16 | 2,728,279 | 2,768,087 | 2,836,387 | 3,036,738 | 11,369,493 | 3,243,543 | 3,355,884 | 3,476,632 | 3,695,814 | 13,771,874 |
| 2016-17 | 2,965,088 | 3,035,756 | 3,079,622 | 3,227,728 | 12,308,193 | 3,639,775 | 3,754,117 | 3,875,007 | 4,122,771 | 15,391,669 |
| 2017-18 | 3,146,336 | 3,197,195 | 3,284,992 | 3,516,058 | 13,144,582 | 4,008,916 | 4,157,246 | 4,339,194 | 4,584,686 | 17,090,042 |
| 2018-19 | 3,382,301 | 3,403,644 | 3,489,761 | 3,717,210 | 13,992,914 | 4,569,369 | 4,656,017 | 4,872,998 | 4,801,284 | 18,899,668 |
| 2019-20 | 3,554,642 | 3,549,945 | 3,603,375 | 3,826,679 | 14,534,641 | 4,951,378 | 4,868,137 | 5,135,345 | 5,148,733 | 20,103,593 |
| 2020-21 | 2,732,306 | 3,342,656 | 3,667,338 | 3,952,568 | 13,694,869 | 3,893,943 | 4,728,281 | 5,474,171 | 5,757,701 | 19,854,096 |
| 2021-22 | 3,350,730 | 3,672,438 | 3,870,108 | 4,128,570 | 15,021,846 | 5,178,170 | 5,627,315 | 6,268,323 | 6,523,591 | 23,597,399 |
| 2022-23 | 3,779,954 | 3,872,858 | 4,034,890 | 4,383,726 | 16,071,429 | 6,499,562 | 6,468,804 | 6,858,115 | 7,123,165 | 26,949,646 |
| Sector | Growth (2023-24) at 2011-12 prices | Growth (2023-24) at current prices | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | ||
| 1 | Agriculture Sector | 3.53 | 1.62 | -0.82 | - | 4.24 | 7.93 | 3.84 | - |
| 1.1 | Agriculture,forestry & fishing | 3.53 | 1.62 | -0.82 | - | 4.24 | 7.93 | 3.84 | - |
| 2 | Industry Sector | 6.02 | 13.61 | 10.43 | - | 4.37 | 12.05 | 9.61 | - |
| 2.1 | Mining & quarrying | 7.12 | 11.12 | 7.55 | - | 1.51 | 12.24 | 6.43 | - |
| 2.2 | Manufacturing | 5.02 | 14.37 | 11.55 | - | 2.17 | 12.00 | 10.59 | - |
| 2.3 | Electricity, gas, water supply & other utility services | 3.17 | 10.53 | 8.97 | - | 13.55 | 9.40 | 4.08 | - |
| 2.4 | Construction | 8.55 | 13.52 | 9.45 | - | 6.26 | 12.91 | 10.41 | - |
| 3 | Services Sector | 10.71 | 6.00 | 7.00 | - | 11.40 | 8.33 | 9.66 | - |
| 3.1 | Trade, hotels, transport, communication and services related to broadcasting | 9.67 | 4.51 | 6.69 | - | 7.22 | 4.44 | 7.45 | - |
| 3.2 | Financial, real estate & prof servs | 12.59 | 6.22 | 6.99 | - | 12.70 | 7.85 | 9.24 | - |
| 3.3 | Public Administration, defence and other services | 8.22 | 7.72 | 7.48 | - | 13.82 | 14.07 | 13.13 | - |
| GVA at basic prices | 8.23 | 7.67 | 6.50 | - | 8.20 | 9.26 | 8.34 | - | |