India Q2 Gross Domestic Product rise to 8%
India’s gross domestic product raised over 8.40% in the second quarter of FY22. The result showed clearly as India moved a step towards recovery even in the second wave of COVID-19. The national statistical commission releases the official Q2 GDP result.
Indian economy shows that the GDP has raised enormously in order with analysts’ expectations. As of the source, Financial experts estimated that Q2 GDP may grow 7.90%. But, it cross the expert estimations and reached 8.40%.
As of the source, the GDP growth raised by 20.10% in the Q1 of FY22 as compared to the year-ago results of (-)24.40%.
A pickup in industrial and service sector volumes, as well as rising vaccine coverage, supported economic activity in Q2 FY22.
“WE CAN FIGHT THE GLOBAL ECONOMY WITH A STRONG LOCAL ECONOMY.”
GDP Growth Details by Sector wise
|SECTORS||Q2FY22 %||Q2FY21 %|
|Agriculture, Forestry & Fishing||4.5||3.0|
|Mining & Quarrying||15.4||-6.5|
|Elec, gas, water & other||839||2.3|
|Trade, Hotels, Trans, etc||8.2||-16.1|
|Fin, realty & prof services||7.8||-9.1|
|Public admin, def & Others||17.4||-9.2|
|GVA AT BASIC PRICE||8.5||-7.3|
Q2 FY22 saw an increase in consumer durable and non-durable goods production on a quarter-over-quarter basis. Further, the government’s non-interest revenue expenditure rose by 15.05% compared with a contraction of 7.30% in the previous quarter.
However, a 9.40% growth rate remains anticipated for the entire period of 2021-22. After Q4 FY22, the output will return to pre-pandemic levels. According to the expert analysis, GDP in FY23 is expected to grow by 7.5%.