India's GDP grows 1.6% in fourth quarter, contracts 7.3% in FY21

Amid coronavirus pandemic, India's gross domestic product (GDP) grew at 1.6 per cent in the January-March quarter of fiscal year 2020-21, but witnessed a contraction of 7.3 per cent for the entire fiscal year, showed government data on Monday. 

This is the first full-year contraction in the Indian economy in the last four decades since 1979-80, when GDP had shrunk by 5.2 per cent. This is also the second straight quarter of expansion since India exited a rare recession.

India’s GDP figures showed the growth at 3 per cent in Q4 of FY20, while growth for FY20 came at 4