New Delhi: The Indian economy’s growth slowed to 7.2% in the financial year 2022-23, as compared to a 9.1% rise in the previous fiscal year, official data showed on Wednesday, May 31.The gross domestic product (GDP) grew 6.1% in the fourth quarter of 2022-23 and that led to a rise in the annual GDP growth rate, data showed.The GDP growth in the October-December quarter was reported to be 4.5%.“We can stick our neck out and say we will be able to see a further upward revision in GDP numbers,” said chief economic adviser V. Anantha Nageswaran.The National Statistical Office had released its revised estimate of economic growth for FY22 at 9.1%. It was estimated at 8.7% in May last year.Separately, the production growth of eight key infrastructure sectors slowed down to a six-month low of 3.5% in April 2023. This was due to a decline in the output of crude oil, natural gas, refinery products and electricity.In April 2022, the core sector growth was 9.5%. In March 2023, the key infra sectors recorded a growth rate of 3.6%.The growth rate in April was the lowest since October 2022 when the sectors expanded by 0.7%.
