India's Economic Growth

In this episode of the Perspective Prog. Based on 'India's Economic Growth'. India’s economy grew 13.5 per cent in the April-June quarter of this fiscal. This was led by higher household consumption, especially of contact-intensive services, and buoyant investment activity. The corresponding April to June quarter of last year had recorded a GDP growth of 20.1% and an 18.1% uptick in GVA amid the second wave of COVID-19 Pandemic. GVA from agriculture, forestry and fishing rose 4.5% in the April to June quarter of this year, while manufacturing and mining grew at 4.8% and 6.5%, respectively. While the share of Government Final Consumption Expenditure in GDP moderated to 11.2% between this April and June, from 12.6% last year, GDP growth was boosted by private final consumption expenditure which surged to 59.9% of GDP from 54% in Q1 of 2021-22. The share of Gross Fixed Capital Formation (GFCF) which reflects capital investments in the economy improved to 34.7% of GDP in Q1 this year from 32. 8% in the corresponding period last year. The Reserve Bank of India had estimated 16.2 percent growth for the first quarter and 7.2 percent for the current fiscal year. So what do these figures for economic growth in the first quarter indicate and what lies ahead for the Indian economy? Anchor:- Vishal Dahiya Producer:- Sagheer Ahmad Guest Coordinator:- Anshuman, Vishwa Pratap Singh 1. Bidisha Ganguly, Chief Economist, Confederation of Indian Industry 2. Subhomoy Bhattacharjee, Consulting Editor, Business Standard 3. Sandeep Aggarwal, Chairman, Industry Affairs Committee, PHDCCI