In keeping with the information launched by the Statistics Workplace of the Authorities of India on Tuesday, the expansion charge remained sluggish within the fourth quarter attributable to weak manufacturing output.
GDP (Photograph Credit score: Information Nation)
Within the fourth quarter of the monetary yr 2021-22, the federal government has suffered a setback on the GDP entrance, India’s GDP development charge within the fourth quarter (January-March) was 4.1 %. In keeping with knowledge launched by the Statistics Workplace of the Authorities of India on Tuesday, the expansion charge remained sluggish within the fourth quarter attributable to weak manufacturing output. On account of which GDP has been recorded at 4.1 % within the March quarter. Whereas the GDP development for the monetary yr 2021-22 was recorded at 8.7 %.
Earlier, within the third quarter of the final monetary yr (October-December quarter), the financial development charge i.e. GDP was 5.4 %. On the similar time, the nation’s GDP development charge was 20.1 % within the April-June quarter and eight.4 % within the July-September quarter. On this method, through the monetary yr 2021-22, the GDP development has been recorded at 8.7 %.
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Earlier, for the fourth quarter, SBI had estimated the GDP development charge to be 2.7 %, ICRA 3.5 %, CRISIL 4.5 %. India’s fiscal deficit within the monetary yr 2021-22 stood at 6.7 per cent towards the revised estimate of 6.9 per cent.
The figures present that the fiscal deficit for the monetary yr 2021-22 is estimated at Rs 15.87 lakh crore. Information launched by the Controller Basic of Accounts (CGA) reveals that the fiscal deficit in actual phrases for the fiscal yr ended March 2022 has been Rs 15,86,537 crore, which is 6.7 per cent of GDP.
Nonetheless, the choice to chop excise obligation on petrol and diesel within the present monetary yr is anticipated to place stress on the fiscal deficit. Fiscal deficit is the quantity which is the distinction between the overall earnings and expenditure of the federal government.
First Revealed : 31 Might 2022, 06:05:25 PM
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