.jpg)
GDP fell by 7.3 per cent in 2020-21
New Delhi: The Indian economy has performed at its worst level in 40 years, with GDP expected to fall by 7.3 per cent in 2020-21. According to the National Statistics Office, GDP grew by 1.6 per cent in the fourth quarter of 2020-21. The figures released by the NSO show how fragile the Indian economy has become.
The corona caused a severe lockdown across the country at the end of March last year. This lockdown was lifted in phases after July 2020. But in the meantime, it has had a negative impact on the country's economy. The size of the Indian economy had shrunk by 24.38 per cent between April and June last year.
There was some improvement in the July-September quarter. Later in the October-December quarter, the economy grew by 0.4 per cent. The Indian economy grew by 1.6 per cent in the last quarter of last fiscal. In the previous year, 2019-20, the Indian economy grew by only 4 per cent.
The NSO had earlier expressed the possibility that GDP would fall by about 8 per cent this year. Earlier in the financial year 1979-80, the country's GDP had declined by 5.3 per cent due to drought and rise in international crude oil prices. Even more than that, it is now down 7.3 per cent.
The country's GVA, the gross value added, also declined by 6.2 per cent from 4.1 per cent last year. Agriculture, forestry and fisheries alone grew by 3.6 per cent and electricity, gas and water supply by 1.9 per cent. With the exception of these two areas, all other sectors have shown negative growth.
New Delhi: The Indian economy has performed at its worst level in 40 years, with GDP expected to fall by 7.3 per cent in 2020-21. According to the National Statistics Office, GDP grew by 1.6 per cent in the fourth quarter of 2020-21. The figures released by the NSO show how fragile the Indian economy has become.
The corona caused a severe lockdown across the country at the end of March last year. This lockdown was lifted in phases after July 2020. But in the meantime, it has had a negative impact on the country's economy. The size of the Indian economy had shrunk by 24.38 per cent between April and June last year.
There was some improvement in the July-September quarter. Later in the October-December quarter, the economy grew by 0.4 per cent. The Indian economy grew by 1.6 per cent in the last quarter of last fiscal. In the previous year, 2019-20, the Indian economy grew by only 4 per cent.
The NSO had earlier expressed the possibility that GDP would fall by about 8 per cent this year. Earlier in the financial year 1979-80, the country's GDP had declined by 5.3 per cent due to drought and rise in international crude oil prices. Even more than that, it is now down 7.3 per cent.
The country's GVA, the gross value added, also declined by 6.2 per cent from 4.1 per cent last year. Agriculture, forestry and fisheries alone grew by 3.6 per cent and electricity, gas and water supply by 1.9 per cent. With the exception of these two areas, all other sectors have shown negative growth.
The corona caused a severe lockdown across the country at the end of March last year. This lockdown was lifted in phases after July 2020. But in the meantime, it has had a negative impact on the country's economy. The size of the Indian economy had shrunk by 24.38 per cent between April and June last year.
There was some improvement in the July-September quarter. Later in the October-December quarter, the economy grew by 0.4 per cent. The Indian economy grew by 1.6 per cent in the last quarter of last fiscal. In the previous year, 2019-20, the Indian economy grew by only 4 per cent.
The NSO had earlier expressed the possibility that GDP would fall by about 8 per cent this year. Earlier in the financial year 1979-80, the country's GDP had declined by 5.3 per cent due to drought and rise in international crude oil prices. Even more than that, it is now down 7.3 per cent.
The country's GVA, the gross value added, also declined by 6.2 per cent from 4.1 per cent last year. Agriculture, forestry and fisheries alone grew by 3.6 per cent and electricity, gas and water supply by 1.9 per cent. With the exception of these two areas, all other sectors have shown negative growth.
