Indian Economy 2021-2022: GDP, Sectors, and Projections

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What is the estimated GDP for 2021?

What is the estimated growth rate for 2021?

What is the estimated unemployment rate for 2021?

Summary

  • The National Statistical Office (NSO) has released the first advance estimates of Gross Domestic Product (GDP) for the year 2021.

  • The GDP for 2021 is estimated to be at Rs.27.5 trillion.

  • The growth rate for 2021 is estimated to be 7.2%.

  • The main contributors to the growth rate are private sector investment, public sector investment, and exports.

  • The main sectors of the economy are agriculture, manufacturing, and services.

  • The unemployment rate for the year 2021 is estimated to be 5.3%.

  • The growth in the agricultural sector is estimated to be lower than the growth in the other sectors of the economy.

  • The main contributors to the growth in the agricultural sector are private sector investment, public sector investment, and exports.

  • The main sectors of the economy are agriculture, manufacturing, and services.

  • The unemployment rate for the year 2021 is estimated to be 5.3%.

  • The growth in the agricultural sector is estimated to be lower than the growth in the other sectors of the economy.

  • The Indian economy is expected to grow by 7% in FY 22-23, up from 6.8% projected by the MPC.

  • The economy is expected to grow by 9.7% in the first half of FY 22-23, which is likely to slow down to 4.5% in the second half.

  • The FAE, first introduced in 2016-17, provide some sense of underlying momentum in economic activities.

Description

Test your knowledge about the first advance estimates of Gross Domestic Product (GDP) for the year 2021, growth rates, main contributors to the growth, sectors of the economy, unemployment rate, and projected growth for FY 22-23. The quiz also covers the underlying momentum in economic activities provided by the First Advance Estimates (FAE).

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