NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Narendra Modi
    Amit Shah
    Box Office Collection
    Bharatiya Janata Party (BJP)
    OTT releases
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout

    India
    Business
    World
    Politics
    Sports
    Technology
    Entertainment
    Auto
    Lifestyle
    Inspirational
    Career
    Bengaluru
    Delhi
    Mumbai

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
    Home / News / Business News / India exits recession, GDP grows 0.4% for Q3 2020-21
    Next Article
    India exits recession, GDP grows 0.4% for Q3 2020-21

    India exits recession, GDP grows 0.4% for Q3 2020-21

    By Siddhant Pandey
    Feb 26, 2021
    07:46 pm

    What's the story

    India's economy grew by 0.4% in the third quarter of the financial year 2020-21, government data released on Friday showed.

    The development comes after two consecutive quarters of Gross Domestic Product (GDP) contraction at the height of the coronavirus pandemic in India.

    Notably, India had slipped into a technical recession during the July-September quarter FY2020-21.

    Here are more details.

    Details

    GDP grew by 0.4% in Q3

    Data released by the National Statistics Office (NSO), which falls under the Ministry of Statistics & Programme Implementation (MoSPI), revealed that India's GDP showed marginal growth in the October-December quarter, expanding 0.4% year-on-year.

    Indian economy had grown at the rate of 4.7% in the same quarter last year.

    Meanwhile, Gross Value Added (GVA) grew 1% year-on-year in the quarter under review.

    Previous quarters

    GDP growth in Q1, Q2 revised

    The Ministry also revised its GDP projections in the previous two quarters: Q1 (April-June) and Q2 (July-September).

    "Real GDP has shown marked improvement over the quarters of the Financial Year (FY) with growth rates of -24.4%, -7.3%, and 0.4% for Q1, Q2, and Q3 respectively," it said.

    Earlier, the GDP estimates for Q1 and Q2 were -23.9% and -7.5%.

    Information

    Second advance estimate projects 8% contraction in FY2020-21

    Further, the NSO has projected an 8% contraction in FY2020-21 in its second advance estimate. According to the first advance estimate, which was released in January, the government had estimated that the GDP will contract by 7.7% in FY2020-21.

    Quote

    'Q3 GDP slightly lower than expectations'

    Sakshi Gupta, senior economist at HDFC Bank, told Mint, "Q3 GDP was slightly lower than expectations."

    "We expect growth to print at 1.5% in Q4 and -7.5% for the whole year FY21. We expect GDP for FY22 at 11.5%. We expect the economy to reach pre-pandemic output levels by the end of the calendar year 2021," she added.

    Facebook
    Whatsapp
    Twitter
    Linkedin
    Related News
    Latest
    India
    Gross Domestic Product
    Ministry of Statistics and Programme Implementation

    Latest

    Legendary singer Selena Quintanilla's documentary hits Netflix this winter  Netflix
    Did the title for next 'Super Mario' movie get leaked? Chris Pratt
    Ruben Amorim dismisses Manchester United exit rumors: Details here Manchester United
    Tottenham's Kulusevski undergoes knee surgery ahead of Europa League final UEFA Europa League

    India

    Patna: School principal sentenced to death for raping 11-year-old student Patna
    After party, 105 residents of Bengaluru complex test COVID-19 positive Bengaluru
    Punjab Municipal Election results: Congress wins 7 municipal corporations Punjab
    UGC wants university students to write the "cow science" exam University Grants Commission

    Gross Domestic Product

    Erratic rains but food grain output up India
    Conflicts straying Pakistan from critical socio-economic issues India
    India's economy to grow 8%, agriculture 4% India
    Understanding the Union Budget India

    Ministry of Statistics and Programme Implementation

    Upcoming budget could turn India's school education crisis into opportunity India
    India needs Rs. 43 lakh crore to meet infrastructural growth India
    Government wants to know all about your online shopping spree India
    1.2 crore jobs created in India in 10 months India
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2025