BOOM

Trending Searches

    SUPPORT
    BOOM

    Trending News

      • Fact Check 
        • Fast Check
        • Politics
        • Business
        • Entertainment
        • Social
        • Sports
        • World
      • Law
      • Explainers
      • News 
        • All News
      • Decode 
        • Impact
        • Scamcheck
        • Life
        • Voices
      • Media Buddhi 
        • Digital Buddhi
        • Senior Citizens
        • Videos
      • Web Stories
      • BOOM Research
      • BOOM Labs
      • Deepfake Tracker
      • Videos 
        • Facts Neeti
      • Home-icon
        Home
      • About Us-icon
        About Us
      • Authors-icon
        Authors
      • Team-icon
        Team
      • Careers-icon
        Careers
      • Internship-icon
        Internship
      • Contact Us-icon
        Contact Us
      • Methodology-icon
        Methodology
      • Correction Policy-icon
        Correction Policy
      • Non-Partnership Policy-icon
        Non-Partnership Policy
      • Cookie Policy-icon
        Cookie Policy
      • Grievance Redressal-icon
        Grievance Redressal
      • Republishing Guidelines-icon
        Republishing Guidelines
      • Fact Check-icon
        Fact Check
        Fast Check
        Politics
        Business
        Entertainment
        Social
        Sports
        World
      • Law-icon
        Law
      • Explainers-icon
        Explainers
      • News-icon
        News
        All News
      • Decode-icon
        Decode
        Impact
        Scamcheck
        Life
        Voices
      • Media Buddhi-icon
        Media Buddhi
        Digital Buddhi
        Senior Citizens
        Videos
      • Web Stories-icon
        Web Stories
      • BOOM Research-icon
        BOOM Research
      • BOOM Labs-icon
        BOOM Labs
      • Deepfake Tracker-icon
        Deepfake Tracker
      • Videos-icon
        Videos
        Facts Neeti
      Trending Tags
      TRENDING
      • #Operation Sindoor
      • #Pahalgam Terror Attack
      • #Narendra Modi
      • #Rahul Gandhi
      • #Waqf Amendment Bill
      • #Arvind Kejriwal
      • #Deepfake
      • #Artificial Intelligence
      • Home
      • News
      • India's GDP Grows 8.7% In FY22, Q4...
      News

      India's GDP Grows 8.7% In FY22, Q4 Growth Slows To 4.1%

      Though the numbers are in line with most estimates, it reaffirms that third straight quarter of slowing growth

      By - Mohammed Kudrati |
      Published -  31 May 2022 7:38 PM IST
    • Boomlive
      Indias GDP Grows 8.7% In FY22, Q4 Growth Slows To 4.1%

      The Indian economy grew 8.4% in the previous financial year ending March 31 this year, and 4.1% in last quarter (Q4) of the financial year (January to March 2022), data released by the Ministry of Statistics and Programme Implementation (MOSPI) shows.

      These numbers are largely in line with expectations. A Reuters polls of 46 economists put the quarterly growth at 4%, while the second advanced estimate of MOSPI projected the growth to be 8.9% for the previous year.

      However, this also is the third consecutive quarter of slowing growth. In the second quarter, growth came in at 8.4% and 5.4% in the third quarter, all measured year on year.

      The average Indian was also left 7.6% richer, as measured by the GDP per capita (or the GDP divided by the Indian population). In FY21, this was ₹1,00,032, which rose to ₹1,07,620.

      Events of significant effects transpired in Q4. India saw a resurgence of cases led by the omicron variant of the coronavirus and military conflict breaking out in Ukraine on February 24, with the latter causing disruption in global food and energy markets.

      "Real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in the year 2021-22 is estimated to attain a level of ₹ 147.36 lakh crore, as against the First Revised Estimate of ₹ 135.58 lakh crore for the year 2020-21, released on 31.01.2022. The growth in GDP during 2021-22 is estimated at 8.7 percent as compared to a contraction of 6.6 percent in 2020-21", the release said.

      Further, the income side of various sectors of the economy, measured by the gross value added, grew 3.9% quarterly (again measured over the same period in the previous year).

      For the last full financial year, the International Monetary Fund had estimated a growth of 8.2% and 6.9% for the ongoing financial year.

      The release also carries a cautionary note: the estimates are likely to undergo revision in subsequent releases on improved data collection, and this should factor into users' interpretation of these number.

      Also Read: RBI's Annual Report 2022: 5 Interesting Data Points

      Performance of select indicators

      MOSPI has also highlighted the performance in several main indicators (measured year-on-year over the corresponding quarter in the previous financial year).

      • The production of rice grew 10.9% in the last quarter
      • Commercial vehicle sales grew 18.8%
      • Passengers handled at airports grew 13.3%
      • However, the consumption of steel was stagnant, growing only 0.2%
      • Purchase of private vehicles though took a hit, falling 19.2%
      • The production of crude oil and total telephone subscribers too took a hit, falling 2.7% and 2.9% respectively

      Find the release here.

      Also Read: Fake Message Claims Government To Give ₹30,628 For Overcoming Inflation


      Tags

      GDPMOSPIMinistry of StatisticsIndian EconomyomicronGross Domestic Product
      Read Full Article
      Next Story
      Our website is made possible by displaying online advertisements to our visitors.
      Please consider supporting us by disabling your ad blocker. Please reload after ad blocker is disabled.
      X

      Subscribe to BOOM Newsletters

      👉 No spam, no paywall — but verified insights.

      Please enter a Email Address
      Subscribe for free!

      Stay Ahead of Misinformation!

      Please enter a Email Address
      Subscribe Now🛡️ 100% Privacy Protected | No Spam, Just Facts
      By subscribing, you agree with the Terms & conditions and Privacy Policy connected to the offer

      Thank you for subscribing!

      You’re now part of the BOOM community.

      Or, Subscribe to receive latest news via email
      Subscribed Successfully...
      Copy HTMLHTML is copied!
      There's no data to copy!