India This fall GDP Data: India’s GDP grows 1.6% in This fall, contracts 7.3% in FY21

India GDP This fall Data: India’s Gross Domestic Product (GDP) for the January-March quarter (This fall) grew by 1.6 per cent, whereas the GDP for the complete monetary yr 2020-21 (FY21) got here at (-)7.3 per cent, as per the provisional estimates of GDP launched by the Ministry of Statistics and Programme Implementation (MoSPI) on Monday.
The authorities additionally revised its GDP estimates within the earlier two quarters. According to the newest knowledge, the GDP grew by 0.5 per cent in October-December quarter (Q3) as a substitute of the earlier estimate of 0.4 per cent. This got here after two consecutive quarters of contraction. The GDP had contracted by -7.4 per cent in July-September quarter (Q2), as per the newest knowledge. It was beforehand revised to -7.3 per cent and initially estimated at -7.5 per cent.
Prior to Q2, India’s GDP had contracted by a pointy (-)24.4 per cent within the April-June quarter (Q1). This contraction is the worst within the historical past of the Indian financial system, which occurred as a result of a strict nationwide lockdown due to the primary wave of the coronavirus (COVID-19) pandemic.

In its second superior estimate of the GDP within the earlier quarter, the GDP for the complete FY21 was seen contracting (-)8 per cent.
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