India’s GDP growth: India’s GDP grew by 5.4 percent in the third quarter of the current financial year
India’s GDP: India’s GDP grew by 5.4 per cent in the third quarter of the current financial year (GDP data for 3 quarters). The Indian government on Monday released official figures for the country’s gross domestic product (GDP). The government said the Indian economy grew by 5.4 per cent in the October-December quarter. However, GDP growth has slowed this quarter compared to the previous two quarters.
The GDP growth rate in the first quarter of the current financial year was 20.3 percent due to low-base effect. In the second quarter, the GDP growth rate was 7.5 percent. Under such circumstances, GDP growth slowed in the third quarter compared to the other two quarters.
According to the second advance estimate of the National Statistics Office (NSO), India’s GDP growth rate is projected at 8.9 percent in FY 2021-22. Earlier, in the first advance estimate released in January, the GDP growth rate was supposed to be 9.2 percent. We would like to inform you that in the last financial year 2020-21, due to the Corona epidemic, the GDP fell by 6.6 percent.
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The Reserve Bank of India (RBI), in its recent monetary policy, has projected India’s GDP growth to be 9.2% in the current financial year and 7.8% in the next financial year. RBI Governor Shaktikant Das has said that the third wave of the Corona epidemic has slowed down economic growth, which has also affected the GDP growth rate in the October-December quarter.
We tell you that in the October-December, 2021 quarter, China’s GDP growth rate was only 4 percent. India is the third largest economy in Asia after China and Japan. At the same time, India is the sixth largest economy in the world globally.
