NEW DELHI: On a year-on-year (YoY) basis, India's real GDP is predicted to increase at around 9.5 percent in 2021-22, according to an SBI Ecowrap analysis released on Saturday. The study comes just one day after the National Statistical Office (NSO) released its First Advance Estimates of National Income for the fiscal year 2021-22.
According to the estimates, India's economy is predicted to grow at a rate of 9.2 percent in real GDP in FY22. According to NSO statistics, Real GDP, or 'GDP at Constant Prices' (2011-12), increased to Rs 147.54 lakh crore in 2021-22, up from Rs 135.13 lakh crore in the 'Provisional Estimate of GDP' for 2020-21.
"We believe that NSO's forecast is on the conservative side," the Ecowrap study noted, "since the predicted GDP growth for H2FY22 for construction comes in at (Minus) 0.9 percenta Services is at a mere 2 percent."