India's GDP growth slows to 5.4 per cent in Q3

New Delhi: India's economic growth slowed to 5.4 per cent in the third quarter of the current financial year from 8.5 per cent in the previous quarter, according to official data released on Monday.

This is the slowest expansion in India`s Gross Domestic Product (GDP) this year. The GDP had expanded by 20.3 per cent in April-June quarter and 8.5 per cent in July-September period of the current financial year.

India`s Gross Domestic Product (GDP) at Constant (2011-12) Prices in Q3 of 2021-22 is estimated at Rs 38.22 lakh crore, as against Rs 36.26 lakh crore in Q3 of 2020-21, showing a growth of 5.4 per cent, according to data released by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation.

Nominal GDP or GDP at Current Prices in the year 2021-22 is estimated to attain a level of Rs 236.44 lakh crore, as against Rs 198.01 lakh crore in 2020-21, showing a growth rate of 19.4 per cent.

Real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in the year 2021-22 is estimated to attain a level of Rs 147.72 lakh crore, as against the First Revised Estimate of GDP for the year 2020-21 of Rs 135.58 lakh crore, released on 31.01.2022. 

The growth in GDP during 2021-22 is estimated at 8.9 per cent as compared to a contraction of 6.6 per cent in 2020-21.

The Advance Estimates of National Income are compiled using the benchmark-indicator method i.e. the estimates available for the previous year referred to as the benchmark year (2020-21 in this case) are extrapolated using the relevant indicators reflecting the performance of sectors.

The First Advance Estimates (FAE) for 2021-22, based on very limited data and by using Provisional Estimates of 2020-21 (released on 31.05.2021) for the benchmark year, were earlier released on 07.01.2022, the NSO said.