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Synopsis
Gross Value Added (GVA), which is a more accurate way of assessing the actual growth in the economy, contracted by 6.2% for the entire year.
India s GDP grows 1.6% in Q4, annual contraction of 7.3% in FY 20-21
India recorded a 1.6% growth in fourth quarter of 2020-21 fiscal indicating that an economic recovery was well underway before the second wave of the virus struck.
The economy contracted by 7.3% for the entire year, better than what the second advance estimates had predicted. The growth in 2019-20 was 4%.
Gross Value Added (GVA), which is a more accurate way of assessing the actual growth in the economy, contracted by 6.2% for the entire year.
›Core sector output growth at 56% in April on low-base effect, sequential decline at 15% due to second wave
Core sector output growth at 56% in April on low-base effect, sequential decline at 15% due to second wave
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Core sector output growth at 56% in April on low-base effect, sequential decline at 15% due to second waveET Online
Last Updated: May 31, 2021, 05:14 PM IST
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Synopsis
The April figures have been high largely due to the base effect but may have been tempered by the impact of local lockdowns on economic activity.
Agencies
High growth rate witnessed in April is largely due to the impact of low-base effect.