India’s economic growth slowed to 8.4 per cent in the second quarter of 2021-22, mainly due to waning low base effect, official data showed on Tuesday.
The GDP growth in April-June quarter this fiscal stood at 20.1 per cent.
The Indian economy had contracted by 24.4 per cent in April-June last year.
The gross domestic product (GDP) had contracted by 7.4 per cent in the corresponding July-September quarter of 2020-21, according to data released by the National Statistical Office (NSO).
GDP at Constant (2011-12) Prices in April-September 2021-22 (H1 2021-22) is estimated at Rs 68.11 lakh crore as against Rs 59.92 lakh crore during the corresponding period of previous year.
This indicaes howing a growth of 13.7 per cent in H1 2021-22 as against a contraction of 15.9 per cent during the same period last year, it stated.
Commenting on this former Finance Minister P. Chidambaram said ” Let us extend a cautious welcome. It is NOT yet a ‘V’ shaped recovery. The fine print will bear that out
Also he stated there are sectors of the economy that are still crippled and need help and time to recover..