Page 17 - Policy Economic Report - June 2024

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

• Real GVA and Real GDP have been estimated to grow by 6.3% and 7.8% respectively in Q4 of FY 2023-
24. Growth rates in Nominal GVA and Nominal GDP for Q4 of FY 2023-24 have been estimated at
8.0% and 9.9% respectively.

Figure 11: Sectoral -wise growth rates (%) of Real GVA in FY 2022-23 & 2023-24

Source- NSO

The key highlights pertaining to quarterly estimates are as below: -

• Real GDP in Q4 of 2023-24 is estimated at ?47.24 lakh crore, against ?43.84 lakh crore in Q4 of 2022-
23, showing a growth rate of 7.8%.

• Nominal GDP in Q4 of 2023-24 is estimated at ?78.28 lakh crore, against ?71.23 lakh crore in Q4 of
2022-23, showing a growth rate of 9.9%.

• Real GVA in Q4 of 2023-24 is estimated at ?42.23 lakh crore, against ?39.74 lakh crore in Q4 of 2022-
23, showing a growth rate of 6.3%.

• Nominal GVA in Q4 of 2023-24 is estimated at ?70.97 lakh crore, against ?65.74 lakh crore in Q4 of
2022-23, showing a growth rate of 8.0%.

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