Indian economy on the way to be in a positive trajectory
The Indian economy regains the bulls ride. India’s Gross Domestic Product (GDP) recovered by 16.5 per cent from previous quarter growth. The economic and social disruption caused by the pandemic is devastating.
Tens of millions of people are at risk of falling into extreme poverty, while the number of undernourished people, currently estimated at nearly 690 million, could increase by up to 132 million by the end of the year. As per World Health Organisation (WHO) reports.
While in the modern world of globalisation, India is also got affected by the Chinese coronavirus lockdowns. But recovering faster than expected. India’s GDP contracts by 7.5 per cent in Q3 after a record slump of 23.9 per cent in the previous quarter.
Indian GDP at constant (2011-12) prices in Q2 of 2020-21 is estimated at Rs 33.14 lakh crores, as against Rs 35.84 lakh crores in Q2 of 2019-20, showing a contraction of 7.5% as compared to 4.4% growth in Q2 of 2019-20: Ministry of Statistics & Programme Implementation.
Quarterly GVA at basic prices at constant (2011-12) prices for Q2 of 2020-21 is estimated at Rs 30.49 lakh crores, as against Rs 32.78 lakh crores in Q2 of 2019-20, showing a contraction of 7%: Ministry of Statistics & Programme Implementation.
Govt of India has received Rs 7,08,300 crores (31.54% of corresponding BE 2020-21 of total receipts) upto Oct, 2020 comprising Rs 5,75,697 crores tax revenue (net to Centre), Rs 1,16,206 crores of non tax Revenue & Rs 16,397 crores of non debt capital receipts: Finance Ministry said.
Definition of ‘Gross Domestic Product’ Definition: GDP is the final value of the goods and services produced within the geographic boundaries of a country during a specified period, normally a year. GDP growth rate is an important indicator of the economic performance of a country.
Source: Times of India, WHO, Wikipedia
