Disappointing numbers

Estimate of GDP growth for current year lowered

The National Statistics Office (NSO) on Monday released the second advance estimates of GDP for 2021-22, alongside the quarterly estimates for the third quarter of the year — October-December 2021. It estimates growth in GDP of 8.9 per cent for the current year, after a contraction of 6.6 per cent in 2020-21, the year that the pandemic and associated national lockdown hit economic activity. The figure of 8.9 per cent is lower than the 9.2 per cent growth that had been projected in the first advance estimates released early in January. It is unclear whether this decrease is a consequence