RAJA & KUMAR
India’s economic growth slowed in the January-March period of 2021-22 to 4.1 per cent, a four-quarter low, reflecting in part the impact of the Omicron wave of the Covid-19 pandemic on the manufacturing sector and contact-intensive services. For the full financial year of 2021-22, the National Statistical Office marginally pruned its year-on-year gross domestic product (GDP) growth forecast to 8.7 per cent in the data released Tuesday, down from 8.9 per cent estimated in February. The economy had witnessed a 6.6 per cent contraction in 2020-21.
The fourth quarter GDP growth was lower than the 5.4 per cent growth seen in October-December quarter, but more than the 2.5 per cent growth rate in January-March 2021.