NSO projects GDP growth for India in 2021-22 at 8.9% and in 2020-21 at 6.6%

• National Statistical Office (NSO) has released the second advance estimates of national accounts. The GDP growth rate projection as per NSO for 2021-22 (FY22) and 2020-21 (FY21) is given below:
  • For 2021-22 (FY22)= 8.9% (earlier it was 9.2% in first advance estimates)
  • For 2020-21 (FY21)= -6.6% (earlier it was -7.3%)

Points to remember:

1. What is India’s GDP growth rate projection for 2021-22 as per the second advance estimate of NSO?= 8.9%
2. NSO has projected what percent contraction in India’s GDP rate for 2020-21?= contraction of 6.6%

Source: Business Standard