New Delhi (NVI): India’s Gross Domestic Product (GDP) for the October-December Quarter (Q3) stood at 0.4 per cent, as per the government data released today.
With this, India’s economy is out of technical recession after two consecutive quarters of contraction.
The fresh figures were released by the Ministry of Statistics and Programme Implementation (MoSPI) today. The data indicated that the GDP for the entire financial year 2020-21 (FY21) was contracting (-)8 per cent.
“GDP at constant (2011-12) prices in Q3 of 2020-21 is estimated at Rs 36.22 lakh crore, as against Rs 36.08 lakh crore in Q3 of 2019-20, showing a growth of 0.4 per cent,” MoSPI data showed.
In the first quarter of the current fiscal, the economy had shrunk by 24.4 per cent, which is the worst in the history of Indian economy. The unprecedented decline took place due to strict nationwide lockdown after the Covid-19 pandemic outbreak.
-ARK
