Indian Goverment Released GDP Figures Growth Rate at 0.4 Percent
After a long time there has been good news on the Indian economy front. According to the data released by the National Statistics Office (NSO) of the Ministry of Statistics and Program Implementation, India’s gross domestic product (GDP) grew by 0.4 per cent in the December quarter. During the first two quarters, a major decline was recorded due to the corona virus epidemic.
The country’s economy has come out of the technical downturn with a growth of 0.4 per cent in the third quarter. However, the overall fiscal year 2020-21 is expected to fall by 8 per cent. From April to January, the Fiscal Deficit figure stood at Rs 12.34 lakh crore as compared to Rs 9.85 crore in the same period last year. There was a 23.9% decline in GDP in the first quarter i.e. April-June quarter due to Corona virus epidemic. India’s GDP data: India out of recession, GDP growth by so much percentage. OneIndia Hindi recorded a decrease in GDP for the first time in the last 40 years. The gross value added (GVA) was 22.8 percent decrease from April to June. There was a 23.3 percent decrease in mining in the first quarter and a 39.3 percent decrease in manufacturing. After this, in the second quarter i.e. July-September, there was a 7.5% decline in GDP. What is GDP? Gross domestic product, ie Gross Domestic Product (GDP), is the total value of all goods and services produced in a country in a given year.
GDP is the biggest measure of a country’s economic development. Higher GDP means that the country’s economic growth is taking place. If GDP increases, it means that the economy is creating more jobs. It also means that the standard of living of the people is also becoming financially prosperous. This also shows which area is developing and which area is lagging economically.
Indian Goverment Released GDP Figures Growth Rate at 0.4 Percent - /10