The government may release third-quarter GDP figures and second-quarter estimates on February 28.
India Rating: India Rating has downgraded India’s GDP growth forecast for FY 2021-22 to 8.6 per cent from 9.2 per cent earlier. Earlier, foreign brokerage brokerage Barclays forecast 6.6 percent growth for the quarter ending December 2021 and 10 percent for the 2021-22 fiscal year.
The government may release third-quarter GDP figures and second-quarter estimates on February 28.
The main reason for the decline in growth forecast
The main reason for the decline in estimates is the increase in FY21’s first revised estimate of national income to Rs 135.6 trillion, which was published on January 31, 2022.
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The Reserve Bank of India (RBI) in its most recent monetary policy has projected India’s GDP growth to be 9.2 per cent in the current financial year. Governor Shaktikanta Das said the third wave of the epidemic and stagnant demand from the communications sector could slow down the economy.
The economic survey shows a growth of 9.2 percent
Significantly, the Economic Survey projected a GDP growth rate of 9.2 percent for the fiscal year ending March 2022, growth of 11.2 percent in the industrial sector and 8.2 percent in the services sector. Also, the agricultural sector is projected to grow by 3.9 percent.
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The NSO can guess it
According to India Rating, NSO can estimate GDP for 2021-22 at Rs 147.2 lakh crore. On the basis of this, the GDP growth will be 7.8 percent.
In the second revised estimate of national income for the 2019-20 fiscal year, it is projected at 3.7 percent, up from 4 percent in the past. At the same time, in the third revised forecast for 2018-19, the GDP growth rate has been kept at 6.5 percent.
