- Hindi News
- Business
- India GDP: GDP up 8.4% in July-September quarter; Pandemic recovery
11 hours ago
- Our economy is now 35.73 lakh crores, before Corona it was 35.61 lakh crores in 2019
- Turkey is second only to India, whose growth rate is 6.9%, US-China growth rate is currently only 4.9%
There is good news for the country’s economy. Our GDP growth rate has reached 8.4%. This growth rate recorded between July and September in the second quarter of 2021-22 is better than expected. This is a sign of our economy becoming corona free, because now it has become more than before the corona period. The size of the economy was 35.61 lakh crore in 2019. Now it has become 35.71 lakh crores.
Highest growth in mining sector
If we look at the pace of development sector-wise, the highest growth has been in the mining sector. Here the growth rate reached 15.4%. Similarly, there was a growth of 5.5% in manufacturing, 7.5% in construction activities, 4.5% in agriculture sector.
Sino-US growth rate 4.9%
Talking about the pace of growth, India has been the fastest in the world. It is followed by Turkey, which has a growth rate of 6.9%. America and China are behind us. Both have a growth rate of 4.9%. In Japan, this rate has been only 1.4%.
The biggest improvement in the sector with the most decline
After the lockdown in the first quarter of 2020-21, the construction sector was most affected. This sector was reduced to 1.30 lakh crores with a drop of 50.3%. Now it has been improved. It is now only Rs 660 crore behind the level before Kovid.
The economy had fallen at the rate of 24.4% during the Corona period
During April to June in 2020, the country’s economy had fallen at the rate of 24.4%, during October to November it had shown a growth of 0.4%. It showed improvement in 2021. GDP grew at 1.6% in January to March and 20.1% in April to June.
More highlights related to the economy
- The fiscal deficit between April and October this year stood at 36.3% from the full year target.
- The total tax collection has been Rs 10.53 lakh crore. The total expenditure of the government has been Rs 18.27 lakh crore.
- The government had projected the fiscal deficit to be 6.8% this year.
Higher growth rate than the estimates of RBI and SBI
The Reserve Bank of India (RBI) had said that the real GDP growth could be 7.9%. UBS believed that India’s GDP growth could be between 8 and 9%. The country’s largest bank State Bank of India (SBI) had estimated that the GDP growth rate could be 8.1%. On the other hand, Dutch Bank and Bank of America believed that India’s growth rate could be 8%. Kotak Securities had expected a growth rate of 7%.
,