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Economy

India's GDP grew 4.1% in January-March, slowest in a year

Omicron COVID wave, inflation stemming from Ukraine war dented fiscal Q4 figures

A shopper buys vegetables from a vendor in Kolkata: India's April retail inflation surged to an almost eight-year high of 7.79%.   © Reuters

NEW DELHI -- India's economic growth slowed to 4.1% in the January-March period, owing to countermeasures against COVID-19's omicron variant and rising inflation linked to the Ukraine war, official data showed on Tuesday.

The result for the fourth quarter of the fiscal year that ended March 31 brought the annual expansion to 8.7%, up from a 6.6% contraction the previous year, when India imposed one of the world's strictest coronavirus lockdowns.

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