New Delhi: Indicating strong revival in the economy, India’s Gross Domestic Product (GDP) in the second (July-September) quarter of 2021-22 financial year grew at 8.4 percent, the government said on Tuesday. The GDP has contracted by 7.4 percent in the corresponding quarter i.e. Q2, 2020-21. In the previous quarter of FY22, the Indian economy had grown at a record pace of 20.1 percent.
“GDP at Constant (2011-12) Prices in Q2 2021-22 is estimated at ₹35.73 lakh crore, as against ₹32.97 lakh crore in Q2 2020-21, showing a growth of 8.4 percent as compared to 7.4 percent contraction in Q2 2020-21. Quarterly GVA at Basic Prices at Constant (2011-12) Prices in Q2 2021-22 is estimated at ₹32.89 lakh crore, as against ₹30.32 lakh crore in Q2 2020-21, showing a growth of 8.5 percent” a government release said.
The numbers mark a significant increase as compared to the COVID-19-hit second quarter of last fiscal year, when the GDP had declined by 7.4 percent.
The gross value added (GVA) had grown by 18.8 percent in the last quarter, whereas, private final consumption expenditure (PFCE) had rose sharply by 19.35 percent.