Growth in Gross Domestic Product (GDP) slowed to 4.1 per cent in January-March 2022 period, while for the full year 2021-22, growth stood at 8.7 per cent, according to the government data released on Tuesday. 

GDP at constant (2011-12) prices in Q4 2021-22 was estimated at Rs 40.78 lakh crore as against Rs 39.18 lakh crore in Q4 2020-21, showing a growth of 4.1 per cent, according to the National Statistical Office (NSO) data. 

India’s GDP growth has slowed for the third straight quarter.

Real GDP at Constant (2011-12) Prices in the year 2021-22 was estimated to attain a level of Rs 147.36 lakh crore as against the first revised estimate of Rs 135.58 lakh crore for the year 2020-21, released on January 31, 2022. The growth in GDP during 2021-22 was estimated at 8.7 per cent as compared to a contraction of 6.6 per cent in 2020-21. 

Nominal GDP at Current Prices in the year 2021-22 was estimated to attain a level of Rs 236.65 lakh crore as against Rs 198.01 lakh crore in 2020-21, showing a growth rate of 19.5 per cent. 

The NSO, in its second advance estimate released in February, had projected the GDP growth during 2021-22 at 8.9 per cent. 

The Economic Survey tabled in Parliament in February had estimated the GDP growth for the current fiscal (2022-23) in the range of 8 to 8.5 per cent.

Growth in Gross Value Added (GVA) during the financial year ended March 2022 was at 8.1 per cent as against a contraction 4.8 per cent in the preceding year. 

The GVA growth in the manufacturing sector accelerated to 9.9 per cent during the year as against a contraction of 0.6 per cent earlier. 

GVA growth in both mining and construction was 11.5 per cent. These two large segments of the economy had contracted in the COVID-hit 2020-21. 

However, agriculture sector growth decelerated to 3 per cent from 3.3 per cent in FY21. 

Electricity, gas, water supply and other utility services segment grew by 7.5 per cent during 2021-22. The segment had contracted by 3.6 per cent in the previous fiscal. 

GVA growth in services sector — trade, hotel, transport, communication and services related to broadcasting — was 11.1 per cent during 2021-22 as against a contraction of 20.2 per cent in the previous year. 

Financial, real estate and professional services grew by 4.2 per cent in the year over 2.2 per cent earlier. 

Public administration, defence and other services posted 12.6 per cent growth against (-)5.5 per cent in 2020-21.