India's GDP growth in FY22 improves to 8.7%

India's GDP rose by 8.7% in FY22, compared with a contraction of 6.6% in FY21.

In January-March period, the GDP, however, slowed 4.1% from 5.4% growth in the previous quarter.

In FY22, gross value added (GVA) which is the total value of output produced, without including the intermediary costs that went into producing them grew 8.1%. Net taxes on products grew 16.1% to Rs 11,30,041 crore in the financial year 2021-22.

The next release of quarterly GDP estimates for the quarter April-June 2022 (Q1 2022-23) will be on 31 August 2022.

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