India records GDP growth of 8.4% in Q2 FY 2021-22 on low base

Wednesday, 01 December 2021 13:40:15 (GMT+3)   |   Kolkata

India’s gross domestic product (GDP) recorded a growth of 8.4 percent in the second quarter (July-September) of the fiscal year 2021-22 over the corresponding period of the previous fiscal year, according to government data released on Wednesday, December 1.

However, the growth during the second quarter of 2021-22 is on the back of a low base as GDP had recorded a contraction of 7.4 percent during the July-September period of the previous fiscal year.

According to the government data, eight industries designated as ‘core sectors’ recorded a growth of 7.5 percent in October 2021, against a seven-month low of 4.5 percent in September.

In the core sector industries, steel production growth in October 2021 hit an 11-month low of 0.9 percent on year-on-year basis. However, compared to September 2021, steel output was up 3.7 percent.

Crude oil production has been on a sustained decline, falling 2.2 percent from October 2020 but up 2.85 percent over September 2021.

Electricity generation was up 2.8 percent in October on year-on-year basis but down 0.8 percent from September 2021.

Coal and cement production were up in October by 14.6 percent and 14.5 percent respectively year on year.

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