The Indian economy is showing signs of recovery, and the gross domestic product (GDP) is expected to grow between 4.6% to 5% in the third quarter of the financial year 2022-23 (FY23).

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The Indian economy is showing signs of recovery, and the gross domestic product (GDP) is expected to grow between 4.6% to 5% in the third quarter of the financial year 2022-23 (FY23). In this article, we will discuss the reasons behind this expected growth in the Indian economy and the sectors that are driving this growth. 

Factors Contributing to the Expected GDP Growth:

There are several factors that are contributing to the expected GDP growth in the third quarter of FY23. Firstly, the easing of COVID-19 restrictions and the vaccination drive have boosted economic activity across various sectors. This has led to an increase in consumer demand, which is driving growth in the economy.

Secondly, the government's stimulus measures have provided a much-needed boost to the economy. The government's focus on infrastructure development and increasing public spending has resulted in a surge in capital expenditure.

Thirdly, the rebound in global demand has led to an increase in exports, which is another factor contributing to the expected GDP growth. India's exports have been growing steadily in recent months, with the pharmaceuticals, chemicals, and engineering sectors driving the growth.

Sectors Driving the GDP Growth:

Several sectors are driving the GDP growth in the third quarter of FY23. The manufacturing sector, which had been severely impacted by the COVID-19 pandemic, has shown signs of recovery, with the PMI index indicating a growth in output and new orders.

The services sector, which is a significant contributor to India's GDP, has also shown signs of improvement, with the PMI index indicating a growth in business activity and new orders. The construction and infrastructure sectors are also expected to drive growth, as the government's focus on infrastructure development is expected to result in increased capital expenditure.

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