Indian Economy Contracts 7.3% In FY21

The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation, has released the Provisional Estimates of National Income for the financial year 2020-21, both at Constant (2011-12) and Current Prices. Real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in the year 2020-21 is now estimated to attain a level of Rs 135.13 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 -7.3% as compared to 4% in 2019-20. GDP at Current Prices in the year 2020-21 is estimated to attain a level of Rs 197.46 lakh crore, as against the First Revised Estimates of Rs 203.51 lakh crore in 2019-20, showing a change of -3.0% as compared to 7.8% in 2019-20. GDP at Constant (2011-12) Prices in Q4 of 2020-21 is estimated at Rs 38.96 lakh crore, as against Rs 38.33 lakh crore in Q4 of 2019-20, showing a growth of 1.6%.

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