Hit by pandemic curbs, India’s quarterly growth slows to 4%

May 31, 2022, 6:15 AM | Updated: 1:59 pm
Workers are engaged in the construction of a coastal road in Mumbai, India, Tuesday, May 31, 2022. ...

Workers are engaged in the construction of a coastal road in Mumbai, India, Tuesday, May 31, 2022. India’s economic growth, hit by pandemic curbs and price increases, slowed to 4.1% in the January-March quarter, according to figures released Tuesday by the government. (AP Photo/Rafiq Maqbool)

(AP Photo/Rafiq Maqbool)

NEW DELHI (AP) — India’s economic growth, hit by pandemic curbs and price increases, slowed to 4.1% in the January-March quarter, according to figures released Tuesday by the government.

It was the slowest pace in the financial year that ended in March, following 5.4% growth in the previous quarter.

Overall, India’s economy grew by 8.7% in the 2021-22 financial year, slower than the 8.9% estimated by a government survey in February.

India’s economy, Asia’s third largest, was recovering from a pandemic-induced slump when a surge in omicron-fueled coronavirus cases starting in January prompted authorities to bring back some virus-related restrictions.

A month later, Russia’s invasion of Ukraine pushed up retail inflation, which hit an eight-year high of 7.8% in April.

Earlier this month, the federal government restricted wheat and sugar exports and cut fuel taxes in an attempt to control inflation and keep commodity prices in check.

Last week, rating agency Moody’s trimmed India’s growth forecast to 8.8% from 9.1% for the current fiscal year, which started in April, as rising energy and food prices hit consumer spending.

India’s economy contracted by 6.6% in the 2020-21 financial year.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

Associated Press

Plane bumps another while backing up at Boston airport

BOSTON (AP) — An airplane bumped into another plane while backing up at Logan International Airport in Boston, prompting an investigation. No one was injured when the two Delta Airlines planes collided at low-speed on Friday night, according to the Federal Aviation Administration, which said it is investigating, the Boston Globe reported. One of the […]
13 hours ago
FILE - Carbon dioxide and other pollutants billows from stacks at the Naughton Power Plant, near wh...
Associated Press

Climate bill: Could coal communities shift to nuclear?

A major economic bill headed to the president has "game-changing" incentives for the nuclear energy industry, experts say, and those tax credits are even more substantial if a facility is sited in a community where a coal plant is closing.
13 hours ago
Three newborn lion cubs are displayed at Nama zoo in Gaza City, Saturday, Aug. 13, 2022. The liones...
Associated Press

3 newborn lion cubs a rare joyous sight in war-scarred Gaza

GAZA CITY, Gaza Strip (AP) — Three day-old lion cubs were on display Saturday in a cardboard box at a Gaza City zoo, a rare joyous sight for children and adults alike, just days after Israeli aircraft pounded the territory and Gaza militants fired hundreds of rockets at Israel. Veterinarian Mahmoud al-Sultan said each cub […]
13 hours ago
FILE - Drivers wait for the traffic to be cleared as cars and trucks are stranded on sections of In...
Associated Press

Audit: Va. failed on earlier advice before I-95 gridlock

RICHMOND, Va. (AP) — Virginia government failed to carry out numerous lessons from a 2018 snowstorm that caused highway gridlock, as exhibited by a similar event along Interstate 95 in January that left hundreds of motorists stranded, a state watchdog office concluded. The Office of the Inspector General report, released Friday, was critical of how […]
13 hours ago
Dead fish lie on the banks of the German-Polish border river Oder in Lebus, eastern Germanny, Satur...
Associated Press

What killed tons of fish in European river? Mystery deepens

WARSAW, Poland (AP) — Laboratory tests following a mass die-off of fish in the Oder River detected high levels of salinity but no mercury poisoning its waters, Poland’s environment minister said Saturday as the mystery continued as to what killed tons of fish in Central Europe. Anna Moskwa, the minister of climate and environment, said […]
13 hours ago
FILE - Sen. Kyrsten Sinema, D-Ariz., speaks before President Joe Biden signs the $1.2 trillion bipa...
Associated Press

Sinema took Wall Street money while killing tax on investors

WASHINGTON (AP) — Sen. Kyrsten Sinema, the Arizona Democrat who single-handedly thwarted her party’s longtime goal of raising taxes on wealthy investors, received nearly $1 million over the past year from private equity professionals, hedge fund managers and venture capitalists whose taxes would have increased under the plan. For years, Democrats have promised to raise […]
13 hours ago

Sponsored Articles

...
Dr. Richard Carmona

Great news: Children under 5 can now get COVID-19 vaccine

After more than two years of battle with an invisible killer, we can now vaccinate the youngest among us against COVID-19. This is great news.
...
Day & Night Air Conditioning, Heating and Plumbing

Most plumbing problems can be fixed with regular maintenance

Instead of waiting for a problem to happen, experts suggest getting a head start on your plumbing maintenance.
...
Carla Berg, MHS, Deputy Director, Public Health Services, Arizona Department of Health Services

Vaccines are safe if you are pregnant or breastfeeding

Are you pregnant? Do you have a friend or loved one who’s expecting?
Hit by pandemic curbs, India’s quarterly growth slows to 4%