27 Feb 2021

India exits from recession, the growth rate of GDP is 0.4%, data given by NSO

There is a good news about the Indian economy. The National Statistics Office has given a good news for India. India has come out of recession. India's gross domestic product (GDP) grew by 0.4% in the December quarter alone. According to the NSO, India's economy has returned with a growth in the October-December quarter. GDP grew by 0.4 percent versus 3.3 percent. In FY15, GDP growth was 8 percent. Which was estimated at 7.7 percent earlier. GDP growth is largely in line with expectations. There is an estimate that shows a higher contraction than previously anticipated.

Agricultural sector growth was high at 3.9 percent. There has been some growth in the financial services, real estate sector. Which is positive. The second quarter, on the other hand, saw an increase due to the festival. Consumption slowed in the third quarter and gross  capital, capital formation accelerated. Due to which the Indian economy boomed. 

According to data released by the Ministry of Statistics and Program Implementation, the total GDP between October and December stood at Rs 36.22 lakh crore. Which was recorded in the increase. The total GDP this year has been Rs 134.09 lakh crore. Earlier, in the year 2019-20, the Indian economy grew by 4 percent. After which a recession began in the world including India. due to the Corona period, the world witnessed the effects of recession.

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