India Q4 GDP Data

June 1, 2021

Central Statistics Office (CSO) released India’s gross domestic product (GDP) data for January-March quarter of financial year 2020-21. According to it, Indian economy is likely to expand in positive territory from December quarter.

Highlights

Before second wave of Covid-19, India’s GDP grew 1.6 per cent in fourth quarter (January-March) of 2020-21.
However, for all quarters together, GDP contracted to 7.3 percent. This improved from earlier estimate of 8 percent contraction in second advance estimates of February because of sharp rise in government expenditure.
Improvement in fourth quarter was driven by manufacturing sector even when services were comparatively sluggish.
Agricultural growth slowed to 3.1 percent in January-March from 4.5 per cent growth in October-December.
Mining & trade, transport sectors, hotels remained in negative territory and contracted by 5.7 percent and 2.3 percent.
Gross fixed capital formation which indicates private investment grew by 10.9 percent in January-March.

Growth Prediction

Growth will remain low in first quarter of 2021-22 because of severity of second wave. Provisional estimate of 2020-21 GDP numbers are slightly better.

Central Statistics Office (CSO)

A governmental agency, working under Ministry of Statistics and Programme Implementation. It is responsible for coordination of statistical activities in India. It maintains statistical standards and has a well-equipped Graphical Unit. Headquarter is in Delhi.

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