Indian economy grew 8.7% in 2021-22
India’s gross domestic product grew at 8.7% in 2021-’22 as against a contraction of 6.6% during the last financial year, showed government data released on Tuesday. The country registered gross domestic product, or GDP, growth of 4.1% in the fourth (January-March) quarter, according to the National Statistical Office. The country’s GDP had risen by 5.4% in the third (October-December) quarter. The GDP for 2021-’22 is less than the 8.9% estimated by the Ministry of Statistics and Programme Implementation, NDTV reported. In October, the Reserve Bank of India had predicted that the Indian economy would grow by 9.5% in 2021-2022. However, in January, the International Monetary Fund slashed its growth forecast for India in 2021-’22 to 9% from the earlier estimate of 9.5%, according to The Times of India. The organisation had cited the impact of the coronavirus for the new forecast. The reduction in the growth rate was because of a drop in growth in agriculture, mining, construction and manu...