India s Q3 GDP growth -15% using Paasche Index: Subramanian Swamy
BJP leader and Rajya Sabha MP Subramanian Swamy said that India s Q3 GDP growth would have been -10 per cent using Laspeyres Price Index Number and -15 per cent using Paasche Index, provided guesstimate of negative growth in MSMEs and informal sector were added to GDP
BusinessToday.In | February 28, 2021 | Updated 22:26 IST
India s GDP grows 0.4% in Q3 FY21
After two consecutive quarters of contraction, India s Gross Domestic Product (GDP) grew by 0.4 per cent in December quarter of the current fiscal (Q3 FY21), indicating that the economy has managed to exit the COVID-19 triggered recession. After recording worst-ever contraction of 24.4 per cent in Q1 FY21 (April-June), followed by 7.3 per cent fall in Q2 (July-September), India s Q3 performance is now eliciting different responses from experts.
The Indian economy has finally bounced back into growth territory in the October-December period after two consecutive quarters of GDP contractions. Official data released by the government showed that the GDP has grown 0.4 per cent in the December quarter.