For the third quarter of the current fiscal year 2021-2022, India had a GDP growth rate of 5.4%. The National Statistical Office has compiled data for the quarter that ended in December (NSO).
GDP growth in December, however, was lower than in the preceding quarter, according to the statistics.
THE INDIAN ECONOMY IS GROWING FASTER THAN THAT OF CHINA.
GDP growth in December was lower than the previous quarter’s figures. The economy increased by 8.4 per cent in the second quarter of fiscal 2021-22, which concluded in September.
Due to a smaller base effect, the GDP grew by 20.3% in the first quarter of the current fiscal year. GDP increased by 8.5% in the second quarter.
According to a PTI report, China’s GDP rose by 4% between October and December 2021.
EXPANSION OF THE GDP
According to figures given by the National Statistical Office, GDP increased by 0.7% in the equivalent period of 2020-21. (NSO).
The National Statistics Office (NSO) forecasts 8.9 per cent growth in 2021-22 in its second advance estimates of national accounts.
It anticipated 9.2 per cent growth for 2021-22 in its first advance projections given in January, compared to 6.6 per cent shrinkage in 2020-21.
GROWTH IN KEY SECTORS
According to official statistics issued on Monday, production of eight infrastructure sectors increased by 3.7% in January, compared to 1.3% in the same month last year, owing to improved performance by the coal, natural gas, and cement industries.
In January, both crude oil and fertiliser output fell. In December 2021, the core sector industries had risen by 4.1%.
The growth rate of the eight infrastructure sectors (coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and power) was 11.6 per cent from April to January this fiscal year, compared to a negative growth rate of 8.6 per cent during the same time previous fiscal year.