Indian economy grew by 5.4 per cent in October-December 2021 and is estimated to rise to expand by 8.9 per cent in FY22, according to the latest government data released on Monday.
The gross domestic product (GDP) had expanded by 0.7 per cent in the corresponding period of 2020-21, according to the data released by the National Statistical Office (NSO).
In its second advance estimates of national accounts, the NSO has projected 8.9 per cent growth in 2021-22.
In its first advance estimates released in January, it had projected 9.2 per cent growth for 2021-22 as against a contraction of 6.6 per cent in 2020-21.
The economy had grown by 20.3 per cent in the first quarter of this fiscal due to lower base effect. In the second quarter, the GDP grew by 8.5 per cent.
China’s economy grew by 4 per cent in October-December 2021.
Core sector growth
Production of eight infrastructure sectors expanded by 3.7 per cent in January against 1.3 per cent in the same month last year on better show by coal, natural gas and cement industries, according to official data released on Monday.
Crude oil and fertiliser production recorded negative growth in January. The core sector industries had grown by 4.1 per cent in December 2021.
The growth rate of the eight infrastructure sectors — coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity — stood at 11.6 per cent during April-January this fiscal, as against a negative growth of 8.6 per cent during the same period last fiscal.
According to the data, production of coal rose by 8.2 per cent, natural gas by 11.7 per cent, refinery products by 3.7 per cent, and cement by 13.6 in January.
