![India's GDP growth hits 7.2 per cent for fiscal year 2022-23 after better than expected performance in fourth Quarter](https://img-cdn.thepublive.com/fit-in/640x430/filters:format(webp)/connect-gujarat-english/media/post_banners/dd42a693cb17d6c5fe3d94e04b4346e5ae80b701a3e7d3d24a7caa9e9d07e6a4.webp)
India's Gross Domestic Product (GDP) is pegged to grow at 7.2 per cent during the fiscal year 2022-23 as per the Statistics Ministry's provisional estimate.
The data is 20 basis points higher than the government's second advance estimate of 7 per cent.
The unexpected upside in the GDP numbers is a result of a better-than-expected performance in the last quarter of the fiscal, powered by services, exports, and agriculture.
The GDP registered a growth of 6.1 per cent in the January-March, fourth quarter of the last fiscal. At 6.1 per cent, the latest quarterly growth number is significantly higher than expectations of 5.1 per cent.
In the financial year 2022-23, the economy grew at 13.1 per cent on an annual basis.
Prime Minister Narendra Modi has expressed satisfaction over the 2022-23 GDP growth
In a tweet, PM Modi said, the 2022-23 GDP growth figures underscore the resilience of the Indian economy amidst global challenges.
Prime Minister said, this robust performance along with overall optimism and compelling macro-economic indicators, exemplify the promising trajectory of our economy and the tenacity of our people.