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First full-year contraction in the last four decades since 1979-80

The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation, has released the Provisional Estimates of National Income for the financial year 2020-21, both at Constant (2011-12) and Current Prices. Real GDP or Gross Domestic Product (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 29th January 2021. The growth in GDP during 2020-21 is estimated at -7.3% as compared to 4% in 2019-20. GDP at Curre...

India's 2020-21 GDP shrinks by record 7.3 per cent; Jan-March quarter sees 1.6 per cent growth In 2020-21, the Indian economy contracted by 7.3 per cent against 4 per cent expansion in 2019-20, showing the economic impact of the COVID-19 pandemic. Share Via Email   |  A+A A- By PTI NEW DELHI: India's economy contracted by less-than-expected 7.3 per cent in the fiscal year ended March 2021 after growth rate picked up in the fourth quarter, just before the world's worst outbreak of coronavirus infections hit the country. The gross domestic product (GDP) in Asia's third-largest economy...

GDP for Q4 FY'21, however, grew at 1.6%, according to new data released by the NSO on Monday evening.

The 7.3 per cent contraction is the worst-ever economic performance that India has witnessed in over four decades