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GDP shrinks 23.9% in 2020-21 Q1

by BQ News Bureau
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The GDP has contracted 23.9 per cent at in the first quarter of this fiscal, according to the National Statistical Office (NSO) report on Monday.

The GDP at Constant (2011-12) Prices in Q1 of 2020-21 is estimated at Rs.26.90 lakh crore, as against Rs.35.35 lakh crore in Q1 of 2019-20, showing a contraction of 23.9 per cent as compared to 5.2 per cent growth in Q1 2019-20.  Quarterly GVA at Basic Price at Constant (2011-12) Prices for Q1 of 2020-21 is estimated at Rs.25.53 lakh crore, as against Rs.33.08 lakh crore in Q1 of 2019-20, showing a contraction of 22.8 per cent.

GDP at Current Prices in the year Q1 2020-21 is estimated at Rs.38.08 lakh crore, as against Rs.49.18 lakh crore in Q1 2019-20, showing a contraction of 22.6 per cent as compared to 8.1 per cent growth in Q1 2019-20. GVA at Basic Price at Current Prices in Q1 2020-21, is estimated at Rs.35.66 lakh crore, as against Rs.44.89 lakh crore in Q1 2019-20, showing a contraction of 20.6 per cent.

The first quarter estimates are based on agricultural production during Rabi season of 2019-20 (which ended in June 2020) obtained from the Department of Agriculture, Cooperation and Farmers’ Welfare; estimates of production, mainly in the form of production targets for milk, egg, meat and wool for livestock sector from the Department of Animal Husbandry and Dairying and fish production data from the Department of Fisheries.

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