GDP estimates for first quarter of 2021

The National Statistic Office (NSO), Ministry of Statistics and Programme Implementation released the Gross Domestic Product (GDP) estimates for the first quarter of FY2021-22 (Q1FY22). At constant prices (2011-12), in comparison to FY2020-21, GDP is estimated to be Rs.32.28 lakh crore in comparison to Rs.26.95 lakh crore in Q1FY21, signalling a 20.1 per cent growth. On the quarterly GVA front, at basic prices at constant (2011-12), GDP is estimated to be Rs.30.48 lakh crore compared to Rs.25.66 lakh crore in Q1 FY21, a growth of 18.8 per cent.

At current prices in Q1FY22, GDP is estimated to be at Rs.51.23 lakh crore against Rs.38.89 lakh crore in Q1 FY21, a growth of 31.7 per cent. GVA at basic prices at the current price (Q1 FY22) is pegged at Rs.46.20 lakh crore in comparison to Rs.36.53 lakh crore in Q1 FY21 at a growth of 26.5 per cent. The leading indicators include 103.1 per cent growth in consumption of steel, 234.4 per cent growth in sales of commercial vehicles, 49 per cent of growth in exports of goods and services. The high growth rate in some cases is attributed to the low base.