Report Wire

Tag: gdp data 2021

  • India GDP Q3 Data: India’s GDP grows 5.4% in Q3, estimated to develop at 8.9% in FY22

    India GDP Q3 Data: India’s Gross Domestic Product (GDP) for the October-December quarter (Q3) grew by 5.4 per cent, whereas the GDP for the whole monetary yr 2021-22 (FY22) is seen rising 8.9 per cent, as per the second superior and quarterly estimates of GDP launched by the Ministry of Statistics and Programme Implementation (MoSPI) on Monday.

    The authorities additionally marginally revised its GDP estimates within the earlier two quarters. According to the newest information, the GDP for the July-September quarter (Q2) grew 8.5 per cent as a substitute of the earlier estimate of by 8.4 per cent and by a pointy 20.3 per cent within the April-June quarter (Q1) as a substitute of the sooner reported 20.1 per cent.

    The GDP development charge was anticipated to come back in decrease than the earlier estimate of 9.2 per cent for FY22, with the Q3 GDP anticipated round 6 per cent. In its first superior estimate launched final month, the federal government had estimated the GDP in FY22 to develop by 9.2 per cent. However, this didn’t replicate the lack of financial exercise in the previous couple of months because of the impression of the brand new variants of the Covid-19 pandemic.

    The Indian financial system had contracted by (-)6.6 per cent within the earlier fiscal (FY21). The FY22 GVA at Basic Prices is estimated at 8.3 per cent, in accordance with the MoSPI information.

    In the third quarter, the manufacturing sector, which had a development of 5.6 per cent in Q2, rose by 0.2 per cent. Apart from this, the agriculture, forestry and fishing sector that grew 3.7 per cent in Q2, rose 2.6 per cent in Q3.

    Source: Data by National Statistical Office (NSO), Ministry of Statistics & Programme Implementation (MoSPI)

    Among the opposite industries, a contraction was seen within the development sector which slipped (-)2.8 per cent in Q3, down from a development of 8.2 per cent in Q2. Apart from this, the commerce, accommodations, transport, communication and companies associated to broadcasting phase rose 6.1 per cent in Q3, down from a development of 9.5 per cent in Q2. (see desk above)

  • India GDP information: Economy grows 20.1% in Q1 FY22

    India GDP Q1 Data: India’s Gross Domestic Product (GDP) for the April-June quarter (Q1) of the continuing monetary yr 2021-22 (FY22) grew by 20.1 per cent, as per the provisional estimates of GDP launched by the Ministry of Statistics and Programme Implementation (MoSPI) on Tuesday.
    The Gross Value Added (GVA) at fundamental costs throughout Q1 of FY22 was 18.8 per cent, towards (-)22.4 per cent within the corresponding quarter yr in the past, the info confirmed.
    The sharp rise in Q1 GDP information might be primarily attributed to a low base final yr. The Indian economic system had contracted by a report (-)24.4 per cent within the corresponding quarter final yr owing to the affect of the nationwide lockdown that was imposed to curb the transmission of the Covid-19, which introduced all non-essential actions to a halt.
    A current Reuters ballot of 41 economists confirmed gross home product rose 20.0 per cent within the three-month interval ended June. Separately, the Reserve Bank of India (RBI) in its financial coverage committee assembly earlier this month had projected the Q1 GDP to develop at 21.4 per cent.
    In worth phrases, the GDP stood at Rs 32,38,020 crore in Q1 FY22, increased than Rs 26,95,421 crore in corresponding interval of FY21 however decrease than Rs 35,66,708 crore in Q1 FY20.
    In the primary quarter, the manufacturing sector, rose by 49.6 per cent towards a contraction of (-)36 per cent a yr in the past, whereas the development sector grew at 68.3 per cent in Q1 FY22 vs. (-)49.5 per cent a yr in the past. The sector of commerce, lodges, transport, communication & companies associated to broadcasting gained 34.3 per cent towards a contraction of (-)48.1 per cent.
    Apart from this, the agriculture, forestry and fishing sector which had grown at 3.5 per cent within the corresponding quarter final yr, grew 4.5 per cent in Q1 FY22, the MoSPI information confirmed. Electricity, gasoline, water provide and different utility companies section grew by 14.3 per cent within the first quarter of this fiscal, towards a 9.9 per cent contraction a yr in the past.
    Source: Data by National Statistical Office (NSO), Ministry of Statistics & Programme Implementation (MoSPI)
    The monetary, actual property {and professional} companies grew by 3.7 per cent in Q1 FY22 in comparison with a contraction of (-)5.0 per cent, whereas public administration, defence and different companies grew at 5.8 per cent, in comparison with (-)10.2 per cent a yr earlier.

  • India This fall GDP Data: India’s GDP grows 1.6% in This fall, contracts 7.3% in FY21

    India GDP This fall Data: India’s Gross Domestic Product (GDP) for the January-March quarter (This fall) grew by 1.6 per cent, whereas the GDP for the complete monetary yr 2020-21 (FY21) got here at (-)7.3 per cent, as per the provisional estimates of GDP launched by the Ministry of Statistics and Programme Implementation (MoSPI) on Monday.
    The authorities additionally revised its GDP estimates within the earlier two quarters. According to the newest knowledge, the GDP grew by 0.5 per cent in October-December quarter (Q3) as a substitute of the earlier estimate of 0.4 per cent. This got here after two consecutive quarters of contraction. The GDP had contracted by -7.4 per cent in July-September quarter (Q2), as per the newest knowledge. It was beforehand revised to -7.3 per cent and initially estimated at -7.5 per cent.
    Prior to Q2, India’s GDP had contracted by a pointy (-)24.4 per cent within the April-June quarter (Q1). This contraction is the worst within the historical past of the Indian financial system, which occurred as a result of a strict nationwide lockdown due to the primary wave of the coronavirus (COVID-19) pandemic.

    In its second superior estimate of the GDP within the earlier quarter, the GDP for the complete FY21 was seen contracting (-)8 per cent.
    More to comply with