GDP Tanks Around 24% In June Quarter, Agri Sector Expands 3.4%

India's Gross Domestic Product or GDP at Constant (2011-12) Prices in Q1 of 2020-21 is estimated at Rs 26.90 lakh crore, as against Rs 35.35 lakh crore in Q1 of 2019-20, showing a contraction of 23.9% as compared to 5.2% growth in Q1 2019-20. Quarterly Gross Value Added or GVA at Basic Price at Constant (2011-12) Prices for Q1 of 2020-21 is estimated at Rs 25.53 lakh crore, as against Rs 33.08 lakh crore in Q1 of 2019-20, showing a contraction of 22.8%. Q1 mining contracted 23.3% while Q1 manufacturing growth dropped 39.3%. Agriculture sector grew by 3.4% versus 3% last year, turning out to be the only segment showing growth.Construction growth fell 50%. Gross fixed capital formation fell by 47%while government final consumption expenditure jumped 16%

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