Advertisement
Tuesday, Sep 28, 2021
Outlook.com
Outlook.com

India's Economy Contracts 7.3% In FY21, Worst In Over Four Decades

In 2020-21, the Indian economy contracted by 7.3 per cent against 4 per cent expansion in 2019-20, showing the economic impact of the Covid-19 pandemic.

India's Economy Contracts 7.3% In FY21, Worst In Over Four Decades
In 2020-21, the Indian economy contracted by 7.3 per cent | Representational Image
India's Economy Contracts 7.3% In FY21, Worst In Over Four Decades
outlookindia.com
2021-05-31T19:01:08+05:30

India's economy grew by 1.6 per cent in the fourth quarter of 2020-21, restricting the full-year contraction to 7.3 per cent, official data showed on Monday.

The fourth quarter growth was better than the 0.5 per cent expansion in the previous October-December quarter of 2020-21.

The gross domestic product (GDP) had expanded by 3 per cent in the corresponding January-March period of 2019-20, according to data released by the National Statistical Office (NSO).

In 2020-21, the Indian economy contracted by 7.3 per cent against 4 per cent expansion in 2019-20, showing the economic impact of the Covid-19 pandemic.

The NSO had projected a GDP contraction of 7.7 per cent in 2020-21 in its first advance estimates of national accounts released in January this year.

The NSO, in its second revised estimates, had projected a contraction of 8 per cent for 2020-21.

China has recorded a 18.3 per cent growth in January-March 2021.

Advertisement

Outlook Newsletters

Advertisement
Advertisement

Read More from Outlook

Navjot Singh Sidhu Resigns As Congress Punjab Chief, Capt Amarinder Says 'Told You So'

Navjot Singh Sidhu Resigns As Congress Punjab Chief, Capt Amarinder Says 'Told You So'

The announcement came days after Congress leader Charanjit Singh Channi was appointed the Chief Minister of Punjab following the ouster of Captain Amarinder Singh.

Zojila Tunnel Work Is Challenging But Govt Has Strong Will To Complete It In Time: Gadkari

Zojila Tunnel Work Is Challenging But Govt Has Strong Will To Complete It In Time: Gadkari

The union minister visited the Zojila tunnel, which will be the longest tunnel in Asia, and reviewed the progress of work.

IPL 2021, Live Cricket Scores, KKR Vs DC: Kolkata Knight Riders Have An Eye On Playoffs

IPL 2021, Live Cricket Scores, KKR Vs DC: Kolkata Knight Riders Have An Eye On Playoffs

Follow here live cricket scores and updates of KKR vs DC. Delhi Capitals are unbeaten in the UAE leg of IPL 2021.

Kanhaiya Kumar Joins Congress, Dalit Leader Jignesh Mevani Extends Support

Kanhaiya Kumar Joins Congress, Dalit Leader Jignesh Mevani Extends Support

Former JNUSU President Kanhaiya Kumar was previously with the CPI(M) while Dalit leader Jignesh Mevani is an independent MLA from Gujarat and the convener of RDAM.

Advertisement