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India's Gross Domestic Product which is a measure of the country's economic growth during the last quarter witnessed growth at 4.1%. Thus taking the annual growth of the country to 8.7%.
The January- March quarter had been though lower than October-December growth of 5.4%.
The gross domestic product (GDP) had expanded by 2.5 per cent in the corresponding January-March period of 2020-21, according to data released by the National Statistical Office (NSO).
In the 2020-21 period, the economy registered contraction of 6.6%.
The NSO, in its second advance estimate, had projected GDP growth during 2021-22 at 8.9 per cent.
So, there was also seen traction in the bond markets with bond yield moving higher to 7.41% at the close.
Nominal GDP growth is estimated at 19.5% in the FY 2021-22 as against the contraction of 1.4% witnessed in the FY 2020-21.
"Fourth quarter of FY22 GDP growth eased to 4.1% y/y, with the sequential pace restrained by temporary mobility restrictions imposed back then, impact of inclement weather and, separately, high commodity prices on account of geopolitical risks, besides a high base. We don't expect this outcome to materially disrupt the central bank's policy normalisation plans. This subdued reading is likely to be followed by a strong double-digit growth in June'22 quarter on base effects", Radhika Rao, Economist. DBS Singapore is quoted as saying in a leading dailies.
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