GDP of India: Growth rate at 1.6% in fourth quarter, GDP growth rate at (-) 7.3% in FY 2020-21
New Delhi, GDP of India. The country’s growth rate stood at 1.6 per cent in the fourth quarter of FY 2020-21. But in the fiscal year 2020-21, India’s economy recorded a contraction of 7.3 per cent.
This has been said in the data released on Monday by the central government. According to the data released by the Ministry of Statistics and Program Implementation, the country’s growth was at four percent in the financial year 2019-20.
In the data released by the government of GDP of India
it has been said that in the fourth quarter of the financial year 2020-21,
the GDP of India stood at Rs 38.96 lakh crore.
GDP stood at Rs 38.33 lakh crore in the March quarter of FY 2019-20. This shows an increase of 1.6 percent on an annual basis.
The figure for the fourth quarter of FY 2020-21 has been better than the third quarter (October-December).
It is worth mentioning that in the October-December quarter last year, the growth rate of the country (GDP of India) was increased by 0.5 percent. According to the government data, the growth rate in the fourth quarter of FY 2019-20 was at three percent.
The absolute fiscal deficit stands at Rs 18,21,461 crore, which is 9.3 per cent of GDP in percentage terms.
Growth rate in FY 2020-21 According to the data released by the government, the country’s economy saw a contraction of 7.3 percent in the financial year 2020-21.
These figures show how severe the impact of the Kovid-19 epidemic has been on the country’s eMeanwhile, according to the data received from China, in January-March, 2021, China’s economy saw growth of 18.3 percent. conomy.
The NSO in its first advance estimate in January this year had projected a rate contraction of 7.7 per cent in the economy in the financial year 2020-21. In the second advance estimate, the NSO had forecast a fall of eight per cent in the economy in 200-21.
