New Delhi, May 31 (FN Bureau) India’s gross domestic product (GDP) decelerated in January-March quarter (Q4) of the financial year 2021-22 to 4.1% as compared to 5.4% in the previous quarter, reflecting the impact of restrictions imposed in the wake of Omicron spread and global headwinds. “GDP at constant (2011-12) prices in Q4 2021-22 is estimated at Rs 40.78 lakh crore, as against Rs 39.18 lakh crore in Q4 2020-21, showing a growth of 4.1%,” Ministry of Statistics and Programme Implementation (MoSPI) said on Tuesday.
The real GDP growth in the financial year 2021-22 stood at 8.7% as compared to a contraction of 6.6% in 2020-21. The growth in FY22 is lower than the official estimate of 8.9% projected in February this year. “Real GDP or Gross Domestic Product (GDP) at constant (2011-12) prices in the year 2021-22 is estimated to attain a level of Rs 147.36 lakh crore, as against the First Revised Estimate of Rs 135.58 lakh crore for the year 2020-21, released on 31.01.2022. The growth in GDP during 2021-22 is estimated at 8.7% as compared to a contraction of 6.6% in 2020-21,” the MoSPI said.