India Q4 GDP LIVE | India Q4 GDP expands by 4.1% YoY; FY22 GDP growth seen at 8.7%

India Q4 GDP LIVE | India Q4 GDP expands by 4.1% YoY; FY22 GDP growth seen at 8.7%

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May 31, 2022 / 06:27 PM IST



India Q4 GDP Growth LIVE Updates | The GDP growth rate estimate for FY22, at 8.7%, will mark India's highest real growth in at least 17 years for which comparable data is available. The country witnessed a negative growth of 6.6% in FY21 due to the onset of COVID-19 pandemic, which had derailed most sectors of the economy.





India Q4 GDP LIVE | The country's gross domestic product is estimated to have grown by 8.7 percent in FY22 after growth slid to 4.1 percent in the January-March quarter, as per the data released on May 31 by the Ministry of Statistics and Programme Implementation.

Growth likely slowed down in the first quarter of 2022 because of the hit to activity from the Omicron variant-led

third COVID-19 wave and the Russia-Ukraine war.

The high growth figure, for FY22, is largely due to a favourable base effect, with the economy having contracted by 6.6 percent in FY21 because of the coronavirus pandemic and intermittent lockdowns, which restricted economic activity.

The economy's near-term prospects have been darkened by a spike in retail inflation, which hit an eight-year high of 7.8% in April. The surge