India Q4 GDP Data

Central Statistics Office (CSO) released India’s gross domestic product (GDP) data for January-March quarter of financial year 2020-21. According to it, Indian economy is likely to expand in positive territory from December quarter.

Highlights

  • Before second wave of Covid-19, India’s GDP grew 1.6 per cent in fourth quarter (January-March) of 2020-21.
  • However, for all quarters together, GDP contracted to 7.3 percent. This improved from earlier estimate of 8 percent contraction in second advance estimates of February because of sharp rise in government expenditure.
  • Improvement in fourth quarter was driven by manufacturing sector even when services were comparatively sluggish.
  • Agricultural growth slowed to 3.1 percent in January-March from 4.5 per cent growth in October-December.
  • Mining & trade, transport sectors, hotels remained in negative territory and contracted by 5.7 percent and 2.3 percent.
  • Gross fixed capital formation which indicates private investment grew by 10.9 percent in January-March.

Growth Prediction

Growth will remain low in first quarter of 2021-22 because of severity of second wave. Provisional estimate of 2020-21 GDP numbers are slightly better.

Central Statistics Office (CSO)

A governmental agency, working under Ministry of Statistics and Programme Implementation. It is responsible for coordination of statistical activities in India. It maintains statistical standards and has a well-equipped Graphical Unit. Headquarter is in Delhi.

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