India’s GDP contracts 7.3% in FY21; January-March quarter GDP rose by 1.6%

According to the government data, India’s gross domestic product (GDP) growth has been severely affected by the coronavirus pandemic during the fiscal ended in March. The growth in GDP during 2020-21 is estimated at -7.3% as compared to 4.0% in 2019-20. GDP at Constant (2011-12) Prices in Q4 of 2020-21 is estimated at Rs38.96 lakh crore, as against Rs38.33 lakh crore in Q4 of 2019-20, showing a growth of 1.6%, the government data added.

Real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in the year 2020-21 is now estimated to attain a level of Rs135.13 lakh crore, as against the First Revised Estimate of GDP for the year 2019-20 of Rs145.69 lakh crore, released on January 29, 2021, as per the government data released on Monday.

The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation, has released the Provisional Estimates of National Income for the financial year 2020-21.

GDP at Current Prices in the year 2020-21 is estimated to attain a level of Rs197.46 lakh crore, as against the First Revised Estimates of Rs203.51 lakh crore in 2019-20, showing a change of -3.0% as compared to 7.8% in 2019-20.

The next release of quarterly GDP estimates for the quarter April-June 2022 (Q1 of 2021-22) will be on August 31, 2021.



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( With inputs from indiainfoline)