The Indian government will on Friday come up with its first advance estimate of economic output for the current fiscal year, amid widespread expectations that growth slowed on an annual basis while Asia’s third largest economy battles with inflation pressure.
New Delhi had pegged India’s growth at 8.7% in the last fiscal year that ended March 31, 2022.
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The first advance estimates are early forecasts and they usually undergo revisions as more data become available.
However, the growth projections will come weeks ahead of the Union Budget announcement that is scheduled for February 1. The estimates from the National Statistic Office is a key consideration for the policy proposals that Finance Minister Nirmala Sitharaman is planning.
The First Advance Estimates of GDP, introduced in 2016-17 is to serve…