GDP growth in Q1 records 20.1% recovery on low base
NEW DELHI: Economic growth soared to a record high in the April-June quarter due to a low base and a rebound in manufacturing and construction, as well as robust growth in agriculture, which has remained resilient throughout the pandemic.
Data released by the National Statistical Office (NSO) on Tuesday showed GDP growth rose 20.1% in the three months to June, the first quarter of the 2021-22 fiscal year, compared with a record contraction of 24.4% in the year-ago period. It was also higher than 1.6% growth recorded in January-March 2021.
Experts said while the recovery is gathering momentum, the first quarter numbers should be interpreted with some caution as the economy is still to recover lost ground after the bruising impact of the lockdows and curbs to prevent the spread of the Covid-19 infection.
The latest June quarter numbers are close to the Reserve Bank of India’s forecast of 21.4%.
A spate of indicators in the past few months have shown that several sectors have staged a robust rebound although some sectors, particularly in the crucial services segment, are yet to recover fully.
“The Q1:2021-22 data reaffirms the go nment’s prediction of an imminent V-shaped recovery made last year at this time. Increase of 20.1% in GDP -- despite the intense second wave in the months of April-May -- highlights the continued economic recovery,” said Krishnamurthy Subrnian, chief economic adviser.
The economy of the whole world has been shaken by the man made Corona pandemic. It is the Modi go nment, who are fighting for the country.
India's economy started shaking after Demonitization and GST implementation!!!
Excellent progress! Well done BJP go nment under Modi's leadership!
People don't have jobs or money. Only go nment employees are enjoying.
This is just a recovery. Good that go nment did not impose lockdown during the 2nd wave.
The GDP in absolute number is lower than 2019 .
Yeah, but fantastic 20 percent growth!
good number eventhough the economy was sick
Before 2014, economy was running! It was same till November 2016! Then it started walking! By 2019 December it was using crutches to walk! March 2020, it became sick and bedridden!. Now it's just sitting on the bed
Great work done by Modi go nment.Modi hai tho mumkim hai.this is just a start many more achievement to come in future
Chai Lo Chai
That’s a whacky and misleading number!
Sad news for Congress
Oh really on a very low base. Nothing to trumpet about. Where are the jobs? Has the percapita income gone up? The whole industry is still in red except the ones favored by this go nment.
After long 2nd lockdown of 110 days this jump in GDP is natural & is not magic of Feku Modi. Had Feku reduced prices of Petroleum Products, other commodity prices may have reduced to give relief to common man. Beggar Pakistan reduced rates by Rs 1.50 BUT NIGGARDLY FEKU IS ADAMANT.
The growth is still far below 2019 pre pandemic level.
nobody trusts this figures, people don't trust this media nor this govt
power of modi
Pappu Chatus will find some issue or the other with all good news and cry. Nothing surprising.
Still no where near the pre-covid level- we are to go a long way to reach that level at least
Rapid vaccination program has helped to brings the economy on track. Industrial output is increasing with speedy recovery.
No one trusts govt data always false
this is really surprising given that was period of second wave