India exits recession as GDP records 0.4 per cent growth in October-December
While India has become one of the few major economies to post growth in the last quarter of 2020, the annual GDP estimate for the fiscal year ending March 31 has been revised to an 8% contraction.
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NEW DELHI: India s economy returned to growth in the December quarter, ending a recession induced by two successive quarters of economic contraction, and the recovery, which the the government termed as V shaped, is expected to gather pace.
The Gross Domestic Product (GDP) grew 0.4 per cent in the October-December 2020 period compared with the same period a year back, data released by the National Statistics Office on Friday showed.
India’s economy returned to growth in the three months to December and the recovery is expected to gather pace as consumers and investors shake off the effects of the coronavirus pandemic, economists said.
Fiscal and monetary policy could boost India’s recovery prospects, they said, amid signs of a pick-up in consumer demand and government spending.
Prime Minister Narendra Modi has launched plans for a massive vaccination drive, while outlining a slew of tax incentives to boost the manufacturing sector.
Gross domestic product (GDP) grew 0.4 percent in October-December compared with the same period a year earlier, data released by the National Statistics Office on Friday showed. That compared with revised contractions of 7.3 percent in July-September and 24.4 percent in April-June.
India's economy returned to growth in the three months to December and the recovery is expected to gather pace as consumers and investors shake off the effects of the coronavirus pandemic, economists said.
India's economy returned to growth in the three months to December and the recovery is expected to gather pace as consumers and investors shake off the effects of the coronavirus pandemic, economists said.
India s economy exits from recession, recovery seen gathering pace reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.