GDP growth in year ’22 stood at 8.7 pc compared to contraction of 6.6 pc in ’21

New Delhi: 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. India’s output of eight core sectors grew by 8.4 per cent in April this year as compared to last year, an official government data showed.
According to the data published by the Ministry of Commerce and Industry, eight core sectors including coal, electricity, refinery products, fertilizers, cement and natural gas, witnessed a significant growth during the month of April 2022 over the corresponding period of last year.
These eight core industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
The combined index of the core Industries stood at 143.2 during the month.
In the backdrop of the significant rise in demand for coal in the month of April, its production increased by 28.8 per cent in as compared to last year.
Crude oil production, however, declined by 0.9 per cent in April, 2022 as compared to the corresponding period last year.
According to the data, the production of natural gas increased by 6.4 per cent, petroleum refinery products by 9.2 per cent, and fertilizers by 8.7 per cent.
The output of steel declined by 0.7 per cent in April, 2022, while the production of cement increased by 8 per cent.
Electricity generation also increased by 10.7 per cent in April, 2022 over April, 2021. (UNI)