News > Indian Government Lowers GDP Estimates For Current Fiscal To 8.9%

Indian Government Lowers GDP Estimates For Current Fiscal To 8.9%

The union government of India has lowered the GDP estimate for the current fiscal year to 8.9% (in the second advance estimates), from the earlier estimate of 9.2% (in the first advance estimate).

The National Statistical Office (NSO), on behalf of the union government stated that GDP had increased 0.7% in the corresponding period of 2020-21, according to the data released by the National Statistical Office (NSO). The growth rates in Q3 and Q4 may be lower than projected earlier.