India's GDP Expanded 1.6 % In Q4FY21, Contracts 7.3% for FY21 India rupee GDP (INDRANIL MUKHERJEE/AFP/Getty Images) 

India's economy expanded 1.6% in the January-March quarter of FY21, but contracted 7.3% in the full financial year, according to the data released by the National Statistical Office (NSO) today (May 31).

"GDP at Constant (2011-12) Prices in Q4 of 2020-21 is estimated at ₹38.96 lakh crore, as against ₹38.33 lakh crore in Q4 of 2019-20, showing a growth of 1.6 percent." NSO said.

.In the October to December quarter, Indian economy clocked 0.4%, showing early signs of recovery.

"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 ₹135.13 lakh crore, as against the First Revised Estimate of GDP for the year 2019-20 of ₹145.69 lakh crore, released on 29th January 2021. The growth in GDP during 2020-21 is estimated at -7.3 percent as compared to 4.0 percent in 2019-20

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