Indian economy grows by 0.4% in October-December 2020: Govt data
The Indian economy rose by 0.4% in the October to December quarter (Q3 FY21), signalling an improvement in the economic health of the country after two-quarters of slide, data released by the Ministry of Statistics and Programme Implementation showed on Friday.
"The GDP at constant (2011-12) prices in Q3 of 2020-21 is estimated at ₹36.22 lakh crore as against ₹36.08 lakh crore in Q3 of 2019-20, showing a growth of 0.4 per cent," said the National Statistical Office (NSO).
In its second advance estimates of national accounts, the NSO has projected 8 per cent contraction in 2020-21. In its first advance estimates released in January, it had projected a contraction of 7.7 per cent for the current fiscal as against a growth of four per cent in 2019-20.
The economy had shrunk by an unprecedented 24.4 per cent in the first quarter this fiscal following the coronavirus pandemic and resultant lockdowns. In the second quarter, the GDP declined 7.3 per cent due to a perk up in economic activities.
(With inputs from PTI)