India’s economy grew 0.4 percent in October-December

India's economy grew 0.4 percent in October-December period of current fiscal.

India’s economy grew 0.4 percent in October-December period of current fiscal. According to official data released today, the Gross Domestic Product, GDP, in third quarter, Q3, of 2020-21 is estimated at 36.22 lakh rupees crore showing a growth of 0.4 percent at constant prices of 2011-12 fiscal.

GDP of the country witnessed growth after logging contraction in last two quarters. In Q1, the GDP of Covid-19 hit economy logged a contraction of 23.9 percent while in Q2 it shrank 7.5 percent.

According to the the National Statistical Office, NSO, data GDP during 2020-21 is estimated at minus 8.0 percent as compared to 4.0 percent in 2019-20 at the constant prices.

According to the data, the Per Capita Income in real terms at 2011-12 Prices during 2020-21 is estimated to attain a level of 85,929 rupees with negative growth of 9.1 percent as it was 94,566 rupees in the year 2019-20.

The government in its release said, the measures taken by the Government to contain spread of the Covid-19 pandemic have had an impact on the economic activities as well as on the data collection mechanisms.

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