Question : NSO(National Statistical Office) has recently released the estimates of GDP. Accordingly, which of the following statement is correct ?
a. India’s GDP grew by 8.4 percent in Q2(July-September) of 2021-22
b. India’s GDP grew by 7.4 percent in Q2(July-September) of 2021-22
c. India’s GDP grew by 6.4 percent in Q2(July-September) of 2021-22
d. None of the above
Ans. a.
Related facts —
- NSO(National Statistical Office) has recently released the estimates of GDP.
- Key points —
- India’s GDP grew by 8.4 per cent in the second quarter (July-September) of 2021-22 fiscal year, compared to a 7.4 per cent contraction a year ago.
- This shows that India’s effort to boost consumption through government spending and low-interest rates is paying off, with the economy gaining strength just as a new coronavirus variant emerges as the top threat to a global recovery.
- According to the figures issued by NSO, the gross domestic product (GDP) at constant prices in Q2 2021-22 is estimated at ₹35.73 lakh crore, as against ₹32.97 lakh crore in Q2 2020-21, showing a growth of 8.4 per cent as compared to the 7.4 per cent contraction in this quarter a year ago.
- According to the Bloomberg recovery is “led by the services sector, with individual mobility back to pre-Covid levels, and ultra-accommodative financial conditions,” as well as higher government expenditures.