Indian economy expands 8.4% in July-September quarter

India's GDP grew by 8.4% in the second quarter of current fiscal as economic activity gradually inched towards normalcy after the second virus wave. The growth comes on the back of a low base in the same period last year when the economy had contracted by more than seven per cent. The bounce back in the second quarter is led by improvement in the sentiment owing to waning of Covid infections, rising vaccination rate and lifting of curbs.
The GVA grew by an impressive 8.5% in the second quarter. Nominal GDP grew at 17.5 per cent.The size of the GDP in the second quarter of FY22 expanded to a level more than what it was in the same period in the pre-Covid year (FY20). In absolute terms, the GDP increased to Rs 35,73,451 crore whereas it was Rs 35,61,530 crore in second quarter of FY20.