GDP Growth In March Quarter Of 2021-22 May Have Slowed: ICRA
NDTV
Hiccups in recovery of contact-intensive services attributable to the third wave of Covid-19 in the country may have also affected the economic growth
The economic growth may have slowed to 3.5 per cent in fourth quarter of 2021-22 from 5.4 per cent in the previous three-month period due to the impact of higher commodity prices on margins, decline in wheat yields and on higher base, ICRA Ratings said on Monday.
The agency said the hiccups in the recovery of the contact-intensive services attributable to the third wave of Covid-19 in the country may have also affected the economic growth in the quarter.
Even the gross value added (GVA) at basic prices (at constant 2011-12 prices) in Q4 FY2022 seems to have eased to 2.7 per cent from 4.7 per cent in Q3 FY2022, it said.
The National Statistical Office (NSO) will release the fourth quarter numbers of fiscal 2022 on May 31.
