At 6.6%, India's GDP contracted less than projected in FY21: NSO data

FY22 growth may NOW dip to 8.8% vs 9.2% estimated earlier; core growth across eight sectors clocks 8.4%

India’s economic growth in financial year 2021-22 (FY22) may dip to 8.8 per cent from the 9.2 per cent estimated earlier as the statistics office on Monday said the coronavirus pandemic had a lesser debilitating effect on the economy in FY21 than what was estimated earlier.

The first revised estimates of gross domestic product (GDP) data for FY21 released by the National Statistical Office (NSO) showed GDP contracted 6.6 per cent, against the 7.3 per cent dip estimated earlier.

This creates a less favourable base for FY22, thus dragging down GDP growth to 8.8 per cent. The NSO also revised down GDP