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GDP Data: Economic growth rate of 8.7% in 2021-22, CSO had predicted 9.2% – News

GDP Data for 4th Quarter: The economic growth rate of the country has been 4.1 percent between January and March in the fourth quarter (4th Quarter) of the financial year 2021-22. Whereas earlier in the fourth quarter of the financial year 2020-21, the GDP growth rate was 1.6 percent. At the same time, the GDP in 2021-22 has been 8.7 percent while in the 2020-21 financial year the GDP was negative (-)7.3 percent. Earlier, in the financial year 2021-22, the Central Statistics Office (CSO) had projected the GDP to be 9.2 percent.

GDP at 4.1 percent in the fourth quarter
Due to the Corona epidemic and global reasons, the fourth quarter of 2021-22 had 4.1 percent GDP. Whereas it was 20.1 percent in the first quarter, 8.4 percent in the second quarter and 5.4 percent in the third quarter. The figures have been released by the Ministry of Statistics and Program Implementation. It is believed that due to the knocking of the Omicron variant of the corona epidemic between January and March and the rise in commodity prices due to the ongoing war between Russia and Ukraine, the country’s economic growth is believed to slow down in the fourth quarter. Due to which the GDP growth rate has been low.

condition of sectors
In the data released by NSO, it has been said that the growth of the manufacturing sector in the fourth quarter of the financial year 2021-22 was negative (-) 0.2 percent. It was 6.9 percent in the same quarter of the last financial year. The growth rate of the agriculture sector was 4.1 percent, which was 3.1 percent in the same quarter last year. The growth rate of the construction sector has been 2 percent as compared to 14.5 percent in the same quarter last year. Similarly, services related to trade, hotel, transport, communication and broadcasting saw a growth of 5.3 percent. Whereas in the same quarter last year – it was 2.5 percent. Similarly, financial, real estate and professional services saw a growth of 4.5 per cent.

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