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New Delhi, February 26
Riding on a good showing by farm, services and construction sectors, the Indian economy entered the positive territory with a growth of 0.4 per cent in the Q3 (October-December) quarter after contracting for two quarters in a row.
With this, the economy has returned to the pre-pandemic level of positive growth and is also a reflection of a further strengthening of a V-shaped recovery that began in Q2 (July-September) of 2020-21. According to data released by the National Statistical Office, the farm sector recorded a growth of 3.9% in Q3, up from 3.3% in Q1.
Lukewarm response to ‘Bharat Bandh’
Sandeep Dikshit
New Delhi, February 26
Gross Domestic Product (GDP) growth returned to positive territory with the Q3 (October – December) growth in 2020-21 pegged at 0.4 %.
This brought back the economy to pre-pandemic times of positive growth rates, and this also shows a reflection of further strengthening of the ‘V-Shaped’ recovery which began in Q2 (July- September) of 2020-21, read an official news release.
After a larger GDP contraction in Q1 (April to June) followed one of the most stringent nation-wide lockdown in the world.
The 2nd advance estimates the contraction of GDP at 8.0 % in 2020-21.
Agriculture continues to provide vital support to the economy, having grown from 3.3 % in Q1 to 3.9 % in Q3.
Positive GDP growth in Q3 reflection of strengthening V-shaped recovery: Govt
The initial policy choice of lives over livelihoods succeeded by lives as well as livelihoods is now bearing positive results, the government said.
BusinessToday.In | February 26, 2021 | Updated 22:29 IST
As per government data, India s GDP grew 0.4 per cent during the third quarter ended December 31, 2020.
The real GDP growth of 0.4 per cent in October-December quarter is a reflection of further strengthening of the V-shaped recovery that began in July-September quarter of 2020-21, the Finance Ministry said on Friday.
As per government data, India s GDP grew 0.4 per cent during the third quarter ended December 31, 2020. It expects GDP to contract by 8 per cent in financial year 2020-21.