India’s Q2FY22 GDP: 8.4% YoY growth reported - Key things to know

India reported an 8.4 per cent growth in its Gros Domestic Product (GDP) for July-September 2021 quarter which is estimated at Rs 35.73 lakh crore at Constant (2011-12) versus 32.97 lakh crore during the corresponding period in FY21 according to a data released by the National Statistical Office (NSO) on Tuesday.  

NSO, which works under the aegis of the Ministry of Statistics and Programme Implementation (MoSPI) today released the estimates of GDP for the second quarter (Q2 of 2021-22) at Constant (2011-12) and Current Prices, along with the corresponding quarterly estimates of expenditure components of the GDP in this press note. 

In Q2FY21 GDP contracted 7.4 per cent. 

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Quarterly Gross Value Added (GVA) at Basic Prices at Constant (2011-12) Prices in Q2 2021-22 is estimated at Rs 32.89 lakh crore versus Rs 30.32 lakh crore in Q2 2020-21, showing a growth of 8.5 percent, the government release said. 

Meanwhile, GDP at Current Prices for Q2FY22 is estimated at Rs 55.54 lakh crore as against Rs 47.26 lakh crore in Q2FY21, up 17.5 percent as compared to 4.4 per cent contraction in the year ago period.  

GVA at Basic Prices at Current Prices in Q2 2021-22 is estimated at Rs 49.70 lakh crore, as against Rs 42.54 lakh crore in Q2 of 2020-21, showing a growth of 16.8 per cent, the release said. 

GDP at Constant (2011-12) Prices in April-September 2021-22 i.e. H1FY22 is estimated at Rs 68.11 lakh crore as against Rs 59.92 lakh crores during the corresponding period of previous year. 

This is a 13.7 percent in H1FY22 versus contraction of 15.9 per cent during the same period last year.  

GDP at Current Prices in H1FY22 is estimated at Rs 106.77 lakh crore as against Rs 86.15 lakh crores during the corresponding period of previous year, showing a growth of 23.9 per cent in H1FY22 as against contraction of 13.4 per cent during the same period last year. 

The Q2 2021-22 estimates are based on First Advance Estimates of agricultural production during Kharif season of 2021-22 obtained from the Department of Agriculture, Cooperation & Farmers’ Welfare; estimates of production of major livestock products viz, milk, egg, meat and wool obtained from the Department of Animal Husbandry & Dairying and Fish production data obtained from the Department of Fisheries.