India's GDP Growth Slows to 5.4% in Q3, Likely To Grow at 8.9% in FY22
However, India's GDP is estimated to grow at 8.9 percent in 2021-22.
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India's economy expanded at 5.4 percent in the October-December 2021 period as compared to a growth of 8.4 percent in the previous quarter, government data released on Monday, 28 February, showed.
However, India's GDP is estimated to grow at 8.9 percent in 2021-22 as compared to a contraction of 6.6 percent in 2020-21, the National Statistical Office said.
According to the NSO, GDP at constant (2011-12) prices in the year 2021-22 is estimated to attain a level of Rs 147.72 lakh crore, as against the first revised estimate of GDP for the year 2020-21 of Rs 135.58 lakh crore.
Nominal GDP or GDP at current prices in the year 2021-22 is estimated to attain a level of Rs 236.44 lakh crore, as against Rs 198.01 lakh crore in 2020-21, showing a growth rate of 19.4 percent.
India's April-January Fiscal Deficit
Meanwhile, India's April-January budgetary fiscal deficit reached 58.9 percent of FY22's revised target.
As per the data furnished by the Controller General of Accounts (CGA), the fiscal deficit – the difference between revenue and expenditure – for the April-January 2021-22 period stood at Rs 937,868 crore (Rs 9.37 lakh crore), or 58.9 percent of the revised estimates (RE).
The FY22 deficit has been pegged at Rs 1,591,089 crore (Rs 15.91 lakh crore), reported IANS.
Besides, the CGA data showed that the fiscal deficit during the corresponding months of the previous fiscal was 66.8 per cent of that year's target.
The central government's total expenditure stood at Rs 2,809,384 crore (Rs 28.09 lakh crore; 74.5 per cent of RE) while total receipts were Rs 1,871,516 crore (Rs 18.71 lakh crore; 85.9 percent of RE).
(With inputs from IANS.)
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