Last Updated: Jan 06, 2024
The National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation has said that the Indian economy will grow by a robust 7.3 per cent in the Financial Year 2023-24 over and above the provisional growth rate of 7.2 per cent during the last financial year.
NSO in its report based on First Advance Estimates (FAE) of National Income for the financial year 2023-24, said that the construction sector has been estimated to have double-digit growth of 10.7 per cent. It highlighted that all the economic sectors have fared well by witnessing more than six per cent, except for the Agriculture and Allied sectors, for which the estimated growth is 1.8 per cent.
NSO said that the Advance Estimates of National Income are indicator-based and are compiled using the benchmark-indicator method. It said the estimates available for the previous year (2022-23) are extrapolated using the relevant indicators reflecting the performance of sectors. NSO said that this report has been prepared based on data inputs collected from various Ministries, Departments, and Private Agencies.