It was said in the advance estimate that the economic growth rate could be 9.2 percent in the current financial year. But, on the contrary, there was a decline of 6.6 percent in the year 2020-21.
GDP Growth Rate: The growth rate of the Indian economy will be 8.9 percent in the year 2021-22. The country’s economic growth rate in the third quarter of the current financial year 2021-22 was 5.4 percent in October-December.
In the data released by the National Statistical Office (NSO) on Monday, it has been said that the growth rate of Gross Domestic Product (GDP) in the same quarter of the last financial year was 0.7 percent.
In the first estimate, NSO had said – GDP growth rate will be 9.2 percent
The second advance estimate of the NSO states that the Indian GDP growth rate is estimated to be 8.9 percent in the financial year 2021-22. In the first advance estimate released in January, it was said that the economic growth rate could be 9.2 percent in the current financial year.
But, on the contrary, there was a decline of 6.6 percent in the year 2020-21. In the first quarter of the current financial year, the growth rate of the economy was 20.3 percent due to weak comparative base.
GDP growth rate in the second quarter was 8.5 percent
The GDP growth rate in the second quarter was 8.5 percent. It is noteworthy that China’s economic growth rate has been 4 percent in the October-December, 2021 quarter. Explain that the production of 8 basic industries has increased by 3.7 percent in January 2022.
In the same period a year ago, the growth rate of basic industries was 1.3 percent. Official data said that the output of basic industries has been better due to the better performance of coal, natural gas and cement sectors.
CPI-IW down 0.3 per cent in January
According to the statement, food inflation stood at 6.22 percent in the month under review, as against 5.93 percent in the previous month. It was 2.38 percent a year ago in January 2021.
As per the data, the All India CPI-IW (Consumer Price Index for Industrial Workers) declined by 0.3 points to 125.1 points in January, 2022. It was 125.4 marks in December, 2021. On the basis of percentage change in one month, it decreased by 0.24 percent in relation to the previous month.
Change in inflation index due to food and beverages
The main reason for the change in the current index is the contribution of the Food and Beverages group. It accounts for 0.82 percentage points in the total change. On the basis of commodities,
the index declined due to fresh fish, mustard oil, apple, carrot, onion, potato etc. However, the rise in the prices of house rent, rice, wheat, meat etc.
curbed the fall. At the center level, Puducherry recorded the maximum decrease of 7.3 per cent. On the other hand, Ludhiana has the highest growth of 2.3 percent. (with agency input)
