India's Economy Grows By 0.4% In Q3FY21, Per Capita Income Estimated To Drop Around 9% In Current Fiscal

The Indian economy came out of a recession, clocking a growth of 0.4% in Q3 of FY21. The economy had witnessed a GDP contraction of 24% and 7.5% in Q1 and Q2 of FY21, respectively. 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.

However, real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in the year 2020-21 is estimated to attain a level of Rs 134.09 lakh crore, as against the First Revised Estimate of GDP for the year 2019-20 of Rs 145.69 lakh crore, released on 29th January 2021. The growth in GDP during 2020-21 is estimated at -8% as compared to 4% in 2019-20. GDP at Current Prices in the year 2020-21 is estimated to attain a level of Rs 195.86 lakh crore, as against Rs 203.51 lakh crore in 2019-20, showing a growth rate of -3.8%.

 

The Per Capita Income in real terms (at 2011-12 Prices) during 2020-21 is estimated to attain a level of Rs 85,929 as compared to Rs 94,566 in the year 2019-20, giving a growth of -9.1% during 2019-20, as against 2.5% in the previous year. The Per Capita Income at current prices during 2020-21 is estimated to be Rs 127,768, showing a decline of 4.8%, as compared to Rs 134,186 during 2019-20.

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