The National Statistics Office has released its estimates of gross domestic product (GDP) for the second quarter this fiscal year, 2021-22. The quarter, which covers the months between July and September 2021, saw GDP at constant prices rise 8.4 per cent as compared to the equivalent period in 2020. However, comparison with the year-ago quarter may not be completely appropriate, since that was when the economy was going through the painful unlocking process after the extensive national lockdown introduced to respond to the onset of the Covid-19 pandemic. When compared to the July-September quarter two years ago, the figures for the current fiscal year show a growth rate of only 0.3 per cent or so. This barely perceptible growth shows the extensive scarring caused by the pandemic.
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First Published: Tue, November 30 2021. 23:15 IST