New Delhi, May 31 (UNI) India's Gross Domestic Product (GDP) contracted by 7.3 per cent in the year 2020-21 against 4 per cent growth estimated in 2019-20, Ministry of Statistics and Programme Implementation (MoSPI) said on Monday.
The GDP in the Q4 of 2020-21 grew by 1.6 per cent. The government revised the figures for Q2 and Q3 with -7.4 per cent and 0.4 per cent. In Q1, India has registered a downfall of -24.4 per cent, the worst since Independence.
"The growth in GDP during 2020-21 is estimated at -7.3 percent as compared to 4.0 percent in 2019-20,"
an official release said. The GDP is estimated at Rs 197.46 lakh crore, as against the revised estimates of Rs 203.51 lakh crore in 2019-20, it said.
The measures taken by the Government to contain the spread of the COVID-19 pandemic had an impact on economic activities, the release said.
Agriculture has been the only sector to register a growth in all the four quarters.
UNI PS JW1912