Economics
India’s Economy Lost Speed on Virus Curbs and War in Ukraine
- Statistics ministry estimated 8.7% GDP expansion last year
- Higher inflation may dent demand, force more rates hikes
Paharganj market in New Delhi, India.
Photographer: Kanishka Sonthalia/BloombergThis article is for subscribers only.
India’s economy grew slower than estimated last year, as virus curbs dragged activity while the war in Europe added a new inflation hurdle to recovery.
Gross domestic product in the year to March 2022 grew 8.7%, according to data released by Statistics Ministry Tuesday. That’s in-line with the median estimate in a Bloomberg survey and slower than the 8.9% expansion projected by the Statistics Ministry three months ago.