Quick Summary
Movement of various high frequency indicators in recent months, points towards broad based nature of resurgence of economic activity The National Statistics Office (NSO) released today the first Advance Estimates (AE) of GDP for the year 2020-21. The real GDP at 2011-12 prices in 2020-21 has been estimated to contract by 7.7 per cent and nominal GDP at current prices by 4.2 per cent. As per quarterly estimates of NSO, real GDP contracted by 15.7 percent in first half of 2020-21. Real GDP
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FAQ :
The National Statistics Office (NSO) has estimated that India's real GDP will contract by 7.7% in the financial year 2020-21.
Nominal GDP at current prices is estimated to contract by 4.2% for the financial year 2020-21.
In the first half of 2020-21, real GDP contracted by 15.7 percent.
The agriculture sector is estimated to grow by 3.4%, and the electricity sector by 2.7%. Government consumption expenditure is also projected to increase by 5.8%.
The contact-sensitive services sector, including trade, hotels, and transport, is estimated to contract by 21.4% in FY 2020-21.
Real GDP grew by 21 percent from Q1 to Q2 of FY 2020-21, which endorses the strength of economic fundamentals and suggests a post-lockdown V-shaped recovery.
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