India's GDP Surges 20.1 Per Cent, Fastest Growth Since Mid 1990s

The Indian economy grew at a rate of 20.1 per cent in the first quarter of financial year 2022, totalling 30.1 lakh crore. The increase in gross domestic product (GDP) numbers is primarily owing to a weak base year and a comeback in consumer spending in the third quarter.

The data from the Ministry of Statistics and Programme Implementation states: "GDP at Constant (2011-12) Prices in Q1 of 2021-22 is estimated at Rs 32.38 lakh crore, as against Rs 26.95 lakh crore in Q1 of 2020-21, showing a growth of 20.1 per cent as compared to a contraction of 24.4 per cent in Q1 2020-21."

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