{"id":16531,"date":"2021-02-28T15:29:33","date_gmt":"2021-02-28T09:59:33","guid":{"rendered":"https:\/\/www.grainmart.in\/news\/?p=16531"},"modified":"2021-02-28T15:32:42","modified_gmt":"2021-02-28T10:02:42","slug":"indias-gdp-increases-by-0-4-during-the-october-december-quarter-national-statistics-office","status":"publish","type":"post","link":"https:\/\/www.grainmart.in\/news\/indias-gdp-increases-by-0-4-during-the-october-december-quarter-national-statistics-office\/","title":{"rendered":"India&#8217;s GDP increases by 0.4% during the October-December Quarter- National Statistics Office"},"content":{"rendered":"\n<p>India&#8217;s Gross Domestic Product (GDP) increases 0.4% year-on-year basis during the October-December quarter. Growth attributed to calibrated fiscal stimulus and smart handling of lockdown.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-india-s-gdp-increases\">India&#8217;s GDP Increases<\/h4>\n\n\n\n<p>While India&#8217;s GDP for the&nbsp;financial year 2020-21 (FY21) contracted 8%, it grew by 0.4% in the third quarter of the year. The&nbsp;Ministry of Statistics and Programme Implementation (MoSPI) <a href=\"http:\/\/mospi.nic.in\/publication\/national-accounts-statistics-2020\">report<\/a> revealed that the Q1 saw the worst contraction of&nbsp;24.4 per cent in the history of the Indian economy. Further, GDP during&nbsp;the July-September quarter (Q2) contracted by 7.3% instead of the previous estimate of negative 7.5%. Also, nominal GDP has improved&nbsp;with the growth rates of -22.2%, -4.2% and 5.3% for Q1, Q2 and Q3, respectively<strong>.&nbsp;<\/strong> However, Indian economy may contract by 1% in Q4 owing to the subsidy payouts of the current quarter. <\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-india-gdp-q3-data\">India GDP Q3 Data<\/h4>\n\n\n\n<p>While the manufacturing sector grew by&nbsp;1.6 per cent in Q3,<strong>&nbsp;<\/strong>the agriculture, forestry and fishing sector rose by 3.9%. Also, the construction sector recovered from&nbsp;a contraction of 49.4% in Q1 to a growth of 6.2% in Q3. However, hotels, transport, communication and services related to broadcasting registered a contraction of 7.7 per cent&nbsp;in Q3. <a href=\"https:\/\/www.grainmart.in\/news\/agriculture-trade-deficit-turns-positive-as-farm-exports-from-india-jump-by-43\/\">Agriculture<\/a> is the only sector which grew in all three quarters of the financial year 2020-21.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-experts-express-confidence-over-growth\">Experts Express Confidence Over Growth<\/h4>\n\n\n\n<p>Commenting on the growth, India Inc said that third-quarter growth numbers are a positive indicator for the economy. Expressing confidence, Industry bodies said that the GDP would improve in the coming months on the back of the government&#8217;s incentives like the Production Linked Incentive scheme. Also, Sakshi Gupta, senior economist, HDFC Bank, said, &#8216;&#8221;We expect growth to print at 1.5% in Q4 and -7.5% for the whole year FY21.\u201d Further, she added that the economy would see a K-shaped recovery, with some sectors growing fast than others.<\/p>\n\n\n\n<p>Siddhartha Sanyal, chief economist and head of research, Bandhan Bank, explained that though GDP growth expectations for FY22 are strong, its path can be uneven and uncertain. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>India&#8217;s GDP increases 0.4% year-on-year basis during the October-December quarter. Growth attributed to calibrated fiscal stimulus.<\/p>\n","protected":false},"author":13,"featured_media":16560,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[24987,24988,365,5556,24986],"class_list":["post-16531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-gdp-q3-data","tag-india-gdp-highlights","tag-indian-economy","tag-ministry-of-statistics-and-programme-implementation","tag-national-statistics-office"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>India&#039;s GDP increases by 0.4% during the October-December Quarter- National Statistics Office - Grainmart News<\/title>\n<meta name=\"description\" content=\"India&#039;s GDP increases 0.4% year-on-year basis during the October-December quarter. 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