India GDP: GDP growth of 5.4% in the third quarter, slower than expected

India GDP: GDP growth of 5.4% in the third quarter, slower than expected

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India GDP News: The Government of India has released the official figures of GDP i.e. Gross Domestic Product – Gross Domestic Product (GDP). India’s GDP has grown at the rate of 5.4 percent in the third quarter of the current financial year. According to the data, the Indian economy grew at the rate of 5.4 percent in the October-December quarter. Compared to the last two quarters, the growth rate of GDP in this quarter has been lower.

In the first quarter of the current financial year, the GDP in the first quarter was 20.1 percent. The GDP growth rate in the second quarter was 8.5 percent. The GDP growth rate in the third quarter has been slower than the other two quarters. Data released by the commerce ministry shows that growth in eight infrastructure sectors also declined to 3.7% in January from 4.1% in the previous month. The share of eight major industries in the Index of Industrial Production is 40.27%.

Meanwhile, the government’s fiscal deficit in the first 10 months of the financial year stood at around 59% of the full year estimate, indicating that the government is on track to meet the revised fiscal deficit target of 6.9% of GDP for the year. may progress.

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Reason for slow growth rate
Exactly a year ago, in the December quarter, India’s growth rate was 0.40 percent. There has been a slowdown in the pace of growth in this quarter. According to the Ministry of Statistics, India’s GDP is likely to grow by 8.9 percent in the fiscal year 2022.

However, the economy emerged stronger than the pre-Covid period, growing 6.1% in the third quarter of FY 2019-20.

GDP
Gross Domestic Product (GDP) or GDP or Gross Domestic Income (GDI), is a measure of the economic performance of an economy. It is the market value of all final goods and services within a nation’s borders in a year.

The economy of any country is considered good when its GDP is good. If the country’s GDP declines, then the economy of that country is not considered good. All the blame for a bad economy is given to the government, because the government of the country determines the economic policy of its country.

Tags: GDP, GDP growth, India GDP, Indian economy

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