Top headlines: India's Q4 GDP grows 4.1%; IMD raises 2022 monsoon forecast

Business Standard brings you the top headlines on Tuesday

India's GDP grows 4.1% in Q4; expands 8.7% in FY22: Govt data

India’s economy slowed down for the third consecutive quarter in the January to March period to grow at 4.1%, while the National Statistical Office pared down overall growth forecast for FY22 a tad to 8.7% from 8.8% estimated in January.

However, elevated level of inflation and rising interest rates are expected to temper economic growth momentum in FY23. Read more

India's FY22 fiscal deficit at 6.7% of GDP, lower than earlier estimate

Fiscal deficit for 2021-22 worked out to be 6.71 per cent of the gross domestic product (GDP), lower than 6.9 per cent projected by the Finance Ministry in the revised Budget Estimates, according to government data released on Tuesday.

Unveiling the revenue-expenditure data of the Union government for 2020-21, the Controller General of Accounts (CGA) said that the fiscal deficit in the absolute terms was be Rs 15.86 trillion (provisional). Read more

IMD raises 2022 monsoon forecast to 103% of LPA on likely La Nina effect

The India Meteorological Department (IMD) on Tuesday updated the monsoon forecast for 2022 southwest monsoon to 103 per cent of the Long Period Average (LPA) from 99 per cent of LPA predicted in April as La Nina conditions are expected to prevail during the entire stretch of four-month monsoon season.

The forecast is with a model error of plus and minus four per cent. The LPA for the seasonal rainfall for the country as whole from 1971 to 2010 is 87 centimeters. Read more

Moose Wala makes final journey on favourite tractor, thousands attend

A sea of mourners bid a tearful farewell to popular Punjabi singer Sidhu Moose Wala, who was cremated at his native village in Mansa district on Tuesday afternoon.

The body of the 28-year-old singer-politician, who was shot dead on Sunday, was brought to his home in Moosa village amid tight security on Tuesday morning from Mansa civil hospital, where the post-mortem was conducted. Read more