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GDP Estimates of 2nd quarter more encouraging than anticipated: Chief Economic Advisor

Chief Economic Advisor K V Subramanian has said that India's Gross Domestic Product (GDP) estimates of second quarter of 2020-21 is quite encouraging in comparison to the first quarter

Chief Economic Advisor K V Subramanian has said that India’s Gross Domestic Product (GDP) estimates of second quarter of 2020-21 is quite encouraging in comparison to the first quarter. Talking to media persons in New Delhi yesterday, Mr Subramanian said, manufacturing has recorded a positive growth of 0.6 per cent, and utility has grown by 4.4 per cent and Agriculture grew by 3.4 per cent in second quarter. Mr Subramanian said that the broad recovery is underway.

India’s GDP contracted by 7.5 per cent in the second quarter, from July to September of 2020-21. According to the Ministry of Statistics and Programme Implementation, Gross Value Added (GVA) came in at minus 7 percent.

Some sectors have bounced back with resumption of economic activities. The electricity, gas, water supply and other utility services have shown a growth of 4.4 per cent. It said, agriculture, forestry and fishing sector at 3.4 per cent and manufacturing sector showed a marginal growth of 0.6 per cent.

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