India’s economy numbers rose significantly in the second quarter of the financial year 2021-22.
India’s gross domestic product (GDP) in the second quarter of the fiscal year 2021-22 grew at 8.4 per cent, according to the official data released by National Statistical Office (NSO) on November 30. India’s GDP number rose significantly against Covid-19-hit second quarter of the last fiscal. GDP had declined by 7.4 per cent in the same quarter last year.
India’s GDP in July-September quarter was in line with the predictions by the analysts and rating agencies. India Ratings expected the economy to grow 8.3 per cent in the second quarter and close the year with 9.4 per cent in FY’22. Reserve Bank Governor Shaktikanta Das earlier projected that Indian economy will grow at 9.5 per cent this fiscal, supported growth impulses and the fast-moving economic indicators.
GDP at Constant (2011-12) Prices in April-September 2021-22 (H1 2021-22) was estimated at Rs 68.11 lakh crore as against Rs 59.92 lakh crore during the corresponding period of previous year, showing a growth of 13.7 per cent in H1 2021-22 as against a contraction of 15.9 per cent during the same period last year, it stated.
The agriculture sector continued to grow at 4.5 per cent in the quarter under review while mining and quarrying grew at 15.4 per cent. Manufacturing sector rose 5.5 per cent in the second quarter while Construction sector grew 7.5 per cent. Both the sectors witnessed a moderated growth when compared to last quarter. Public Administration, Defence & Other Services sector grew at 17.4 per cent during the July-September quarter. Trade, Hotels, Transport, Communication & Services related to Broadcasting sector grew at 8.2 per cent during the quarter under review.