RTTNews | Jan 31, 2022 11:32AM EST

11:32 Monday, January 31, 2022 (RTTNews.com) - India's economy shrank less than estimated in the 2020-21 fiscal year, revised figures from the statistics ministry showed Monday.

Gross domestic product decreased a real 6.6 percent in the fiscal year ended March 31, 2021, latest data showed. In May 2021, the ministry had estimated a 7.3 contraction. Growth for the fiscal year 2019-20 was revised down to 3.7 percent from 4.0 percent. In the latest annual Economic Survey, released earlier on Monday, the government estimated growth of 9.2 percent for fiscal year 2021-22.

The government also projected GDP expansion of 8-8.5 percent for fiscal 2023.

Read the original article on RTTNews ( https://www.rttnews.com/3258742/india-fy21-economic-contraction-less-than-estimated.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com All Rights Reserved