India’s economic growth slowed to 5.4 per cent in the third quarter of 2021-22 but higher than China’s GDP expansion of 4 per cent during the same period and the country retained its position as the world’s fastest growing major economy.
The National Statistical Office (NSO) in its second advance estimates of national accounts released pegged the country’s growth for 2021-22 at 8.9 per cent, a tad lower than 9.2 per cent estimated in its first advance estimates released in January.
Besides, NSO revised its estimates of GDP contraction for the coronavirus pandemic-hit last financial year (2020-21) to 6.6 per cent.
Points to Note:
- National Statistical Office (NSO) predicts India’s economic growth slowed to 5.4 per cent in the third quarter (Q3) of 2021-22
- Predicts growth for 2021-22 at 8.9%
- Revised GDP contraction for 2020-21 at 6.6%
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