Read more about India s GDP grows 1.6% in fourth quarter, contracts 7.3% in FY21 on Business Standard. This is the first full-year contraction in the Indian economy in the last four decades since 1979-80, when GDP had shrunk by 5.2 per cent
Workers working inside a factory during the first phase of unlock in Delhi. (Representative image)
NEW DELHI: India s gross domestic product (GDP) for the fourth quarter (Q4) ended March 31, 2021 stood at 1.6 per cent, government data released on Monday showed.
GDP had grown by 3 per cent in the January-March quarter in the previous year. Real GDP at constant (2011-12) prices in the year 2020-21 is now estimated to attain a level of Rs 135.13 lakh crore, as against the first revised estimate of GDP for the year 2019-20 of Rs 145.69 lakh crore, released on January 29, 2021, data released by ministry of statistics and programme implementation showed.
Updated 9:56 AM ET, Mon May 31, 2021
Electric rickshaws pass closed stores on a deserted street during lockdown restrictions in New Delhi on May 31, 2021.
New Delhi (CNN Business)India s economy was turning a corner earlier this year
as the country started to accelerate out of the recession it suffered in 2020. But a disastrous surge in Covid-19 cases threatens that progress.
Asia s third biggest economy recorded a rise in gross domestic product of 1.6% in the January-March
quarter,
compared with the same period a year earlier, according to official statistics published on Monday. This is faster than the 0.5% growth reported in the previous quarter.