BusinessThe economic growth rate in the last financial year was 7.2%.

The economic growth rate in the last financial year was 7.2%.

New Delhi, May 31 (Agency) The country’s economic growth rate has been 6.1 percent in the fourth quarter of the last financial year 2022-23. With this, the GDP growth rate during the entire fiscal has reached 7.2 per cent. According to the data released on Wednesday by the National Statistics Office, the economic growth rate in the October-December quarter of the financial year 2022-23 was 4.5 percent. The economic growth rate in the entire financial year 2022-23 was 7.2 percent. In the previous financial year 2021-22, it was 9.1 percent. The National Statistics Office had expressed the possibility of the country’s growth rate to be seven percent in the second advance estimate.

Fiscal deficit at 6.4% of GDP: The fiscal deficit of the central government stood at 6.4 percent of GDP in the last financial year 2022-23. Even in the revised estimates of the Finance Ministry, the fiscal deficit was targeted to remain the same. Releasing the revenue-expenditure data of the central government for 2022-23, the Controller General of Accounts (CGA) said that the fiscal deficit in terms of value stood at Rs 17,33,131 crore (provisional). The CGA said the revenue deficit stood at 3.9 per cent of GDP. The effective revenue deficit stood at 2.8 per cent of GDP.

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