NSO projects the Indian economy to grow 9.2% in FY22

National Statistical Office (NSO) has estimated India’s GDP to grow at 9.2 percent in the current fiscal, 2021-22. NSO released its first advance estimates of economic output on January 07, 2022. The GDP estimate for 2020-21 fiscal was projected at a contraction of 7.3 percent by NSO.

Key points:

• National Statistical Office (NSO) estimated India’s real GDP in the current fiscal year at ₹147.54 trillion, against the provisional estimate of ₹135.13 trillion in the previous fiscal.
• Nominal GDP for 2021-22 is estimated at Rs. 232.15 lakh crore, as against the Provisional
• Estimate of GDP for the year 2020-21 at Rs 197.46 lakh crore.
• The fiscal deficit target likely to be achieved is 6.8%.