Service Sector Gross Value Added To Grow 8.2% In FY 22 Says Economic Survey

Services Sector contributed over 50% to India's GDP, highlighted the Economic Survey 2021-22 which was tabled by the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman in Parliament today. The Survey also noted that Services Sector registered a steady recovery during the first half of the current fiscal year. Overall, the Services Sector grew by 10.8% Year on Year (YoY) in first half (H1) 2021-22, stated the Survey. The overall Services sector GVA is expected to grow by 8.2% in 2021-22, although the spread of Omicron variant brings in a degree of uncertainty for near term, especially in segments that require human contact, the Survey emphasised.

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