BusinessIndia

India’s GDP shrinks 23.9pc during April-June quarter

New Delhi: The country’s gross domestic product (GDP) growth rate dropped to minus 23.9 percent in the current fiscal quarter from April to June due to a lockdown imposed to combat the corona virus infection.

‘GDP in Q1 of 2020-21 is estimated at Rs 26.90 lakh crore, as against Rs 35.35 lakh crore in Q1 of 2019-20, showing a contraction of 23.9 per cent as compared to 5.2 per cent growth in Q1 2019-20,’ according to data released by the government on Monday.

Quarterly GVA for Q1 of 2020-21 is estimated at Rs 25.53 lakh crore, as against Rs 33.08 lakh crore in Q1 of 2019-20, showing a contraction of 22.8 per cent, according to a National Statistical Office (NSO) statement here.

GDP at Current Prices in the year Q1 2020-21 is estimated at Rs 38.08 lakh crore, as against Rs 49.18 lakh crore in Q1 2019-20, showing a contraction of 22.6 per cent as compared to 8.1 per cent growth in Q1 2019-20.

GVA at Basic Price at Current Prices in Q1 2020-21, is estimated at Rs 35.66 lakh crore, as against Rs 44.89 lakh crore in Q1 2019-20, showing a contraction of 20.6 per cent.

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