GDP growth of 20.1% from April 2021 to June 2021

New Delhi, August 31, 2021, Tuesday

The economy in India suffered a major setback during the Corona period. Now it is beginning to show signs of improvement. According to the GDP figures released by the government, India's GDP growth in the first quarter of FY20, i.e. from April 2021 to June 2021, has increased by 30.1 per cent. As per the information received, the GDP during the first quarter of 2021-22 was Rs 4.5 lakh crore, which is much higher than the previous year's figure of Rs 4.5 lakh in 2020-21.

Last year, the GDP fell by 7.5 per cent. According to SBI's EcoRap research report, the economy is likely to see a current turnover of 21.5 per cent in the first quarter of this year. According to all government figures, the GDP growth rate is 20.1 per cent, which is close to the Reserve Bank's estimate. This rate of GDP indicates that the economy is getting stronger. Gross Domestic Product (GDP) is the total market value of goods and services produced in any country within a certain time frame. GDP alone determines the economic situation of any country. Although GDP is calculated on an annual basis, it is sometimes based on quarterly progress. Experts believe that the GDP is improving due to the dynamism in the industrial and service sectors due to the decline in the transition to corona. During the Corona period, when the lockdown was given for around 6 months, the GDP rate was minus in all sectors except the agriculture sector. After the end of the monsoon season, the agricultural economy is expected to gain more momentum.