Connect with us

Hi, what are you looking for?

[t4b-ticker]
Home » Business » Indian GDP Grows 8.4% In July-September, Surpasses Pre-Covid Level

Business

Indian GDP Grows 8.4% In July-September, Surpasses Pre-Covid Level

The gross domestic product (GDP) had contracted by 7.4 per cent in the corresponding July-September quarter of 2020-21.

India GDP Growth -PTI
Representational Image. (Source: PTI)

New Delhi: India’s GDP growth slowed to 8.4 per cent in the second quarter of 2021-22, mainly due to waning low base effect, but the economy has surpassed the pre-COVID level, official data showed on Tuesday. The GDP growth in April-June quarter this fiscal stood at 20.1 per cent. The Indian economy had contracted by 24.4 per cent in April-June last year.

The gross domestic product (GDP) had contracted by 7.4 per cent in the corresponding July-September quarter of 2020-21, according to data released by the National Statistical Office (NSO).

The government had imposed a nationwide lockdown at the onset of the COVID-19 pandemic last year.

This year, a massive second wave of the pandemic hit the country in the middle of April, which forced states to impose fresh restrictions. However, the economy has now surpassed the pre-COVID level.

ALSO READ: Govt Will Introduce Bill On Cryptocurrency After Cabinet Clears It: FM Nirmala Sitharaman Tells RS

In value terms, the GDP stood at Rs 35,73,451 crore in July-September 2021-22, higher than the Rs 35,61,530 crore in the corresponding period of the 2019-20 financial year.

The GDP had shrunk to Rs 32,96,718 crore in July-September last year during the nationwide lockdown.

GDP at Constant (2011-12) Prices in April-September 2021-22 (H1 2021-22) is estimated at Rs 68.11 lakh crore as against Rs 59.92 lakh crore during the corresponding period of previous year, showing a growth of 13.7 per cent in H1 2021-22 as against a contraction of 15.9 per cent during the same period last year, it stated.

According to the NSO data, gross value added (GVA) growth in the manufacturing sector accelerated to 5.5 per cent in the second quarter of 2021-22, compared to a contraction 1.5 per cent a year ago.

Farm sector GVA growth was up at 4.5 per cent, compared to 3 per cent growth earlier.

Advertisement. Scroll to continue reading.

Construction sector GVA grew by 7.5 per cent compared to a degrowth of 7.2 per cent earlier.

Mining sector grew by 15.4 per cent, as against a contraction of 6.5 per cent.

Electricity, gas, water supply and other utility services segment posted growth of 8.9 per cent in the second quarter of this fiscal, against 2.3 per cent expansion a year ago.

Similarly, trade, hotel, transport, communication and services related to broadcasting grew by 8.2 per cent compared to 16.1 per cent contraction earlier.

Financial, real estate and professional services growth stood at 7.8 per cent in Q2 FY22 compared to a contraction of 9.1 per cent.

Public administration, defence and other services grew at 17.4 per cent during the quarter under review, compared to 9.2 per cent contraction a year earlier.

Meanwhile, China has recorded a growth of 4.9 per cent in the July-September period of 2021.

Read Full Article

Spotlight

Entertainment

For the unversed, if Idris lands the part he will become the seventh actor to play Bond as part of the franchise - following...

Videos

India celebrated the 125th birth anniversary of Netaji Subhash Chandra Bose today. On this occasion, PM Narendra Modi unveiled a hologram statue of the...

Videos

Thounaojam Niranjoy Singh has created a new Guinness World Record for most push-ups in a minute. The 24-year-old did 109 push-ups in a minute....

Lifestyle

A new study analyses how students learn when they double the speed of class videos.

India

The expedition will inspire and motivate women of all age groups to include fitness activities in their daily lives to stay healthy.

You May Also Like

India

The charges spell that Mustafa was booked for promoting enmity between different groups on grounds of religion, race and others.

Entertainment

On January 21, Meat Loaf's official Facebook page confirmed that the singer had passed away but did not reveal his cause of death. He...

India

The hologram statue will be powered by a 30,000 lumens 4K projector. An invisible, high gain, 90 per cent transparent holographic screen has been...

India

CM Mamata Banerjee requests Center to declare January 23 as National Holiday so that citizens can pay homage to great freedom fighter.

Advertisement