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The Indian economy contracted by 7.3 per cent during FY 2020-21, latest data released by the National Statistical Office (NSO) said on Monday. Meanwhile, the April-June quarter showed growth, against expectations of a contraction.
“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 ₹135.13 lakh crore, as against the First Revised Estimate of GDP for the year 2019-20 of ₹145.69 lakh crore,” the NSO statement said. The growth in GDP during 2020-21 is estimated at -7.3 per cent as compared to 4 per cent in 2019-20.
For the January-March quarter, (Q4 of FY 21), GDP is estimated at ₹38.96 lakh crore, as against ₹38.33 lakh crore in Q4 of 2019-20, showing a growth of 1.6 per cent.
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