According to figures provided by the National Statistical Office (NSO) on Tuesday, the Indian economy grew by 8.7%. In the fiscal year 2021-22, the Gross Domestic Product (GDP) is expected to expand by 8.7%, compared to 6.6 percent in the preceding year.
Meanwhile, in April 2022, the combined Index of Eight Core Industries was 143.2, an increase of 8.4 percent over the Index of April 2021.
In the January-March quarter of FY2021-22, India’s GDP increased by 4.1 percent, compared to 5.4 percent in the preceding three months.
According to data issued by the NSO, the GDP increased by 2.5 percent in the January-March period of FY2020-21.
According to the NSO’s second advance estimate, GDP growth in FY2021-22 will be 8.9%.
In the first three months of 2022, China’s economy grew at a rate of 4.8 percent.
According to government figures released on Tuesday, the budget deficit for FY2021-22 was 6.71 percent of GDP, lower than the 6.9 percent forecast by the Finance Ministry in the revised Budget Estimates.
The Controller General of Accounts (CGA) revealed the Union government’s revenue-expenditure figures for 2020-21, revealing that the fiscal imbalance in absolute terms was Rs 15,86,537 crore (provisional).
At the end of 2021-22, the revenue deficit was 4.37 percent.
In the budget presented in February 2021, the government estimated the fiscal deficit for the previous fiscal year to be 6.8% of GDP.
According to the government’s updated estimates in the Budget for 2022-23, the fiscal deficit for the fiscal year ending in March will be 6.9% of GDP, or Rs 15,91,089 crore.
According to official figures issued on Tuesday, eight infrastructure sectors expanded by 8.4% in April, compared to a year-ago period when they rose by 62.6 percent.
In March 2022, the output of eight infrastructure sectors grew by 4.9 percent: coal, crude oil, natural gas, refinery products, fertilizer, steel, cement, and electricity.
Because of the low base effect, the core sector experienced an extraordinarily high growth rate of 62.6 percent in April 2021.