After two consecutive quarters of contraction, India s GDP is set to revert to the growth territory in the October-December 2020 period compared to the year-ago period, according to a report. Private consumption and government spending will help the economy post a turnaround during the December quarter and the GDP will grow 0.7 per cent, Icra Ratings said in a report on Tuesday. The economy contracted almost by a fourth in the June quarter and by 7.5 per cent in the September quarter in the current fiscal. Even as a recovery is underway, official estimates peg the FY21 contraction at 7.7 per cent. It can be noted that the economic growth has been on a downward spiral for over three years till it went into a contraction mode.
GDP to be in growth territory in December qtr, says report
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Last Updated: Feb 16, 2021, 06:01 PM IST
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The economy contracted almost by a fourth in the June quarter and by 7.5 per cent in the September quarter in the current fiscal. Even as a recovery is underway, official estimates peg the FY21 contraction at 7.7 per cent.
It can be noted that the economic growth has been on a downward spiral for over three years till it went into a contraction mode.
Mumbai: After two consecutive quarters of contraction, India s Gross domestic product (GDP) is set to revert to the growth territory in the October-December 2020 period compared to the year-ago period, according to a report. Private consumption and government spending will help the economy post a turnaround during the December quarter and the GDP will grow 0.7 per cent, Icra Ratings said in a report on Tuesday.
The profitability for a large portion of the formal listed space remained healthy, benefitting from the cost-cutting measures that had been undertaken at the peak of the pandemic as well as rising volumes., , private consumption, government spending, india, revenue, COVID-19 Pandemic, economy