India’s Q1FY22 GDP growth zooms 20.1pc YoY
Low base, along with pent-up demand as well as easier Covid restrictions, lifted India’s first quarter FY22 GDP growth rate to 20.1 per cent.
Last year, the pandemic had battered the country’s GDP which had contracted by 24.4 per cent during Q1FY21.
India’s GDP at constant of 2011-12 prices has been estimated at Rs 32.38 lakh crore, as against Rs 26.95 lakh crore in Q1FY21.
India’s April-July fiscal deficit reaches 21.3pc of FY22 target
India’s April-July budgetary fiscal deficit reached 21.3 per cent of the FY22 target, official data showed on Tuesday.
The fiscal deficit — the difference between revenue and expenditure — for the April-June 2021-22 period stood at Rs 321,143 crore, or 21.3 per cent of the budget estimates (BE).
The FY22 deficit has been pegged at Rs 15.06 lakh crore.
Besides, the CGA data showed that the fiscal deficit during the corresponding months of the previous fiscal was 103.1 per cent of that year’s target.
India’s core industrial output up 9.4pc in July
Easing Covid restrictions, along with pent-up demand, accelerated output of India’s eight major industries in July on a year-on-year basis.
The Index of Eight Core Industries (ICI) readings for the last month showed an expansion of 9.4 per cent from a decline of 7.6 per cent in output, during the same month of the previous year.
On a sequential basis, the core industrial growth during June stood at 9.3 per cent.
The ICI index comprises 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
