Indian Economy Rebounds From COVID Contractions, GDP Grows At 0.4 Per Cent In Third Quarter Of FY21

Indian Economy Rebounds From COVID Contractions, GDP Grows At 0.4 Per Cent In Third Quarter Of FY21GDP (Representative Image)

In the first signs of an incipient recovery for its pandemic battered economy, India's gross domestic product (GDP) growth for the third quarter (Q3) ending December 2020 stood at 0.4 per cent as against contraction of 23.9 per cent and 7.5 per cent in the first and second quarters ending June and September 2020 respectively.

GDP at constant prices (2011-12) in Q3 of 2020-21 is estimated at Rs 36.22 lakh crore against Rs 36.08 lakh crore in Q3 of 2019-20.

Real GDP in the year 2020-21 (at 2011-12 prices) is estimated to be Rs 134.09 lakh crore, against Rs 145.69 lakh crore for the First Revised Estimate of GDP for the year 2019-20, released on 29 January 2021. The GDP growth during 2020-21 is contracted by 8.0 per cent as compared to a positive 4.0 per cent in 2019-20.

On the other hand, GDP at current prices in the year 2020-21 is estimated at Rs 195.86 lakh crore, as against Rs 203.51 lakh crore in 2019-20, showing a contraction of 3.8 percent.

The released data shows that the per capital income in real terms contracted by 9.1 percent during between 2021-2020 and 2019-20, as against 2.5 per cent in the previous year.

The the per capital income in real terms (at 2011-12 Prices) during 2020-21 is estimated at Rs 85,929 as compared to Rs 94,566 in the year 2019-20.