India's <a href="https://www.mid-day.com/news/india-news/article/indian-economy-to-witness-v-shaped-rebound-with-11-pc-growth-next-fiscal-economic-survey-23157620" target="_blank" rel="noopener">economy</a> grew by 1.6 per cent in the fourth quarter of 2020-21, restricting the full-year contraction to 7.3 per cent, official data showed on Monday.
As per AFP, this has marked the country&rsquo;s worst recession since Independence.
<blockquote class="twitter-tweet">
<a href="https://twitter.com/hashtag/BREAKING?src=hash&amp;ref_src=twsrc-Etfw">#BREAKING</a> India's economy contracted 7.3&#37 in 2020-21, official data shows, its worst recession since independence as Covid-19 <a href="https://www.mid-day.com/mumbai/mumbai-news/article/stricter-curbs-in-mumbai-if-heavy-traffic-continues-uddhav-thackeray-23175953" target="_blank" rel="noopener">lockdowns</a> put millions out of work <a href="https://t.co/tJYx3L47nv">pic.twitter.com/tJYx3L47nv</a>
&mdash; AFP News Agency (@AFP) <a href="https://twitter.com/AFP/status/1399338991833452544?ref_src=twsrc-Etfw">May 31, 2021</a></blockquote>

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The fourth quarter growth was better than the 0.5 per cent expansion in the previous October-December quarter of 2020-21.
The gross domestic product (GDP) had expanded by 3 per cent in the corresponding January-March period of 2019-20, according to data released by the National Statistical Office (NSO).
Also Read:&nbsp;<a class="ng-binding" href="https://www.mid-day.com/news/india-news/article/revival-of-private-consumption-investment-critical-for-sustaining-post-covid-growth-rbi-23175362">Revival of private consumption, investment critical for post-Covid growth: RBI</a>
In 2020-21, the Indian economy contracted by 7.3 per cent against 4 per cent expansion in 2019-20, showing the economic impact of the Covid-19 pandemic.
The NSO had projected a GDP contraction of 7.7 per cent in 2020-21 in its first advance estimates of national accounts released in January this year.
The NSO, in its second revised estimates, had projected a contraction of 8 per cent for 2020-21.
China has recorded a 18.3 per cent growth in January-March 2021.

In 2020-21, the Indian economy contracted by 7.3 per cent against 4 per cent expansion in 2019-20, showing the economic impact of the Covid-19 pandemic.

India's GDP shrinks 7.3 pc in 2020-21, its worst recession since Independence

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Home / News / India News / Article / India's GDP shrinks 7.3 pc in 2020-21, its worst recession since Independence

India's GDP shrinks 7.3 pc in 2020-21, its worst recession since Independence

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