GDP grows by 5.4% in Q3 of 2021-22

New Delhi: The Indian economy grew by 5.4 per cent in the October-December quarter of 2021-22, according to data released by the National Statistical Office (NSO).  

The economy had grown by 20.3 per cent in the first quarter of this fiscal due to the low base effect. In the second quarter, the GDP grew by 8.5 per cent.

The gross domestic product (GDP) had expanded by 0.7 per cent in the corresponding period of 2020-21. In its second advance estimates of national accounts, the NSO has projected 8.9 per cent growth in 2021-22.

In its first advance estimates released in January, it had projected 9.2 per cent growth for 2021-22 as against a contraction of 6.6 percent in 2020-21. 

According to the statement, real GDP at constant (2011-12) prices in 2021-22 is estimated



to attain a level of Rs 147.72 lakh crore as against the first revised estimate of GDP for the year 2020-21 of Rs 135.58 lakh crore, released on January 31, 2022. 

The growth in GDP during 2021-22 is estimated at 8.9 per cent as against a contraction of 6.6 percent in 2020-21.

In value terms, GDP stood at Rs 38,22,159 crore in October-December 2021-22, higher than the Rs 36,22,220 crore in the corresponding period of 2020-21.

According to NSO data, Gross Value Added (GVA) growth in the manufacturing sector growth remained almost flat at 0.2 per cent in the third quarter of 2021-22, compared to a growth of 8.4 per cent a year ago. Farm sector GVA growth was slow at 2.6 per cent in the third quarter compared to 4.1 per cent growth a year ago.