Government Expects GDP To Grow At 9.2% In Current Financial Year

The economy is expected to grow at 9.2 per cent in the current financial year compared with contraction of 7.3 per cent in the last fiscal, according First Advance Estimates of National Income released by Ministry of Statistics and Programme Implementation. Nominal GDP growth is estimated at 17.6 per cent compared with 17.4 per cent in the year ago period.

Releasing the first advance estimates of National Income for 2021-22, the NSO stated, "The growth in real GDP during 2021-22 is estimated at 9.2 per cent as compared to the contraction of 7.3 per cent in 2020-21."

"Real GVA at Basic Prices is estimated at Rs 135.22 lakh crore in 2021-22, as against Rs 124.53 lakh crore in 2020-21, showing a growth of 8.6 per cent," it added.

According to data released by the government Gross Fixed Capital Formation is expected to grow at 15 per cent, exports are expected to see an upsied of 16.54 per cent while imports are expected to see a jump of 20.38 per cent.