The Gross Domestic Product (GDP) growth rate stood at 8.7 per cent during FY 2021-22 while it witnessed a contraction of 6.6 per cent during FY 2020-21.
The growth rate of GDP between the last quarter of the last financial year i.e. January to March 2022 was 4.1 percent, compared to 1.6 percent in the same quarter of FY 2021.
The Reserve Bank of India had projected GDP growth at 9.5 per cent for the last financial year and 6.1 per cent during the last quarter.
Meanwhile, according to the data released by the Ministry of Commerce, the index of industrial production registered a growth of 8.4 percent in April 2022. Production of coal, power, refinery products, fertilisers, cement and natural gas picked up pace in April 2022 as compared to the same month last year.
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