Nominal GDP or GDP at current prices in Q1 FY23 is estimated at ₹64.95 lakh crore as against ₹51.27 lakh crore in Q1 FY22—a growth of 26.7 per cent. The growth figure was 32.4 per cent in Q1 FY22, an official release said.

India’s real gross domestic product (GDP) at constant (2011-12) prices in the first quarter (Q1) of this fiscal (FY23) is estimated at ₹36.85 lakh crore compared to ₹32.46 lakh crore in Q1 FY22, showing a growth of 13.5 per cent, according to data released by the National Statistical Office (NSO). The growth figure was 20.1 per cent in Q1 FY22.

GDP is derived as the sum of the gross value added (GVA) at basic prices, plus all taxes on products, less all subsidies on products. The total tax revenue used for GDP compilation includes the revenue from goods and services tax (GST) as well as non-GST revenue.

Fibre2Fashion News Desk (DS)