India’s GDP expected to grow at 9.2% in FY22

New Delhi: India’s economy is estimated to clock a growth of 9.2 per cent in terms of real GDP for FY22, official data showed on Friday. In 2020-21, India’s economy had contracted by (-)7.3 per cent. On Friday, the First Advance Estimates of National Income for financial year 2021-22, estimated that ‘Real GDP’ or ‘GDP […]

New Delhi: India’s economy is estimated to clock a growth of 9.2 per cent in terms of real GDP for FY22, official data showed on Friday. In 2020-21, India’s economy had contracted by (-)7.3 per cent.

On Friday, the First Advance Estimates of National Income for financial year 2021-22, estimated that ‘Real GDP’ or ‘GDP at Constant Prices’ (2011-12) in the year 2021-22 rose to Rs 147.54 lakh crore from Rs 135.13 lakh crore, the ‘Provisional Estimate of GDP’ for the year 2020-21.

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“The growth in real GDP during 2021-22 is estimated at 9.2 per cent as compared to the contraction of 7.3 per cent in 2020-21,” the National Statistical Office (NSO) said.

As per the estimate, real GVA at basic prices is estimated at Rs 135.22 lakh crore in 2021-22, as against Rs 124.53 lakh crore in 2020-21, showing a growth of 8.6 per cent.

In terms of sectors, the estimates showed growth from agriculture, forestry and fishing, mining and quarrying, manufacturing and construction at 3.9 per cent, 14.3 per cent, 12.5 per cent and 10.7 percent, respectively.

The GVA at basic prices for 2021-22 from the electricity, gas, water supply and other utility services sector is expected to grow by 8.5 per cent.

Besides, GVA from trade, hotels, transport, communication and services related to broadcasting, financial, real estate and professional services, and public administration, defence and other services grew at 11.9 per cent, 4 per cent and 10.7 per cent, respectively.

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