GDP grows at 4.1% in Q4; FY22 growth at 8.7%

TIL Desk/Business/New Delhi/ India’s economy grew by 4.1 per cent in the January-March quarter of 2021-22, pushing the annual growth rate to 8.7 per cent on account of better performance by manufacturing, mining and construction sectors, official data showed on Tuesday.

In the previous fiscal 2020-21, the economy had contracted by 6.6 per cent as the COVID-19 pandemic disrupted business activities. China had registered economic growth of 4.8 per cent in the first three months of 2022.The 4.1 per cent expansion during the January-March period of 2021-22 is the lowest quarterly growth in the last fiscal.

The growth was 20.1 per cent, 8.4 per cent, and 5.4 per cent, in the first, second and third quarters, respectively, as per the data released by the National Statistical Office (NSO).The GDP had grown by 2.5 per cent in the January-March quarter in the previous year. The NSO, in its second advance estimate released in February, had projected the GDP growth during 2021-22 at 8.9 per cent.