The impact of Corona shook the country’s economy. But now the signs of improvement in the Indian economy are clearly visible. The Indian economy is gaining momentum due to the record number of corona vaccinations. The National Statistics Office has released the GDP figures for the July-September quarter. This indicates that the economy is getting back on track.
Let us tell you that in the second quarter of FY 2021 from July to September, the economic growth rate of the country has been 8.4%. This is due to the increase in the production of the manufacturing sector as well as the increased demand in the service sector. Along with this, a record number of corona vaccinations against the corona epidemic in the country has helped in accelerating the pace of the baby economy.
The report of the NSO, which works under the Ministry of Statistics and Program Implementation, states that the country’s GDP at base year 2011-12 prices stood at Rs 35.73 lakh crore in the second quarter of 2021-22. In the same quarter of 2020-21 last year, it was Rs 32.97 lakh crore. In this way, the country’s economic growth rate during this period has been 8.4 percent.
However, in the period 2020 to 2021, the country was recovering from the debt crisis and then the country’s economic growth rate declined by 7.4% compared to the previous year.
The central bank RBI had projected GDP growth to be 7.9% in the second quarter of the current financial year, thus Konami’s performance in July-September was even better than the RBI’s estimate. The rate was estimated to be between 7.8 and 8.5%.
Production of coal, natural gas, refinery products, fertilisers, steel, cement and electricity increased in October 2021. Their overall growth rate has been 7.5%. The highest growth of 25.8% has been registered in the natural gas sector.
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