GDP of India: GDP growth contracts by 23.9% in Q1 against 3.1% growth in previous quarter | India Business News
NEW DELHI: India’s gross home product (GDP) expansion for the 1st quarter (ended June 30) of monetary yr 2020-21 suffered greatest quarterly stoop of 23.9%, knowledge launched by way of the federal government confirmed on Monday. The pointy contraction in GDP numbers is principally because of closure of commercial job throughout the quarter owing to national lockdowns to curb the unfold of the fatal coronavirus. The GDP determine stood at 3.1 in keeping with cent within the January-March length (This autumn) of the monetary yr 2019-20. The financial system grew by way of 5.2 in keeping with cent in the similar length ultimate fiscal. That is the sharpest contraction since quarterly figures began being revealed in 1996 and worse than what used to be anticipated by way of maximum analysts. Whilst production and building sectors shriveled by way of a whopping 39.Three in keeping with cent and 50.Three in keeping […]