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.


Most Recent Related Articles

Indian stainless producers seek level playing field in national budget

India’s NMDC begins building iron ore screening and beneficiation plant at Donimalai mine

ICRA: High input costs and soft steel prices to impact Indian steel profits from Q3

Indian passenger car retail sales decline by 10.91 percent in December

Indian passenger car sales show mixed trends in December