New Delhi: Rebound from a large decline made by Pandemic Covid-19, India on Tuesday reported the best quarterly growth of 20.1 percent for the first quarter ending June 30.
After historical contraction 24.4 percent in the same period last year – when the center had imposed a strict national locking to curb the spread of the virus – this was the highest growth recorded since India began issuing quarterly results in 1996.
In terms of value, gross domestic product (GDP) reached Rs 32.38 Lakh Crore in April-June 2021-22, from RS 26.95 Lakh Crore in the same quarter last year.
Also read the accelerated GDP growth to record 20.1% in Gross Q1India (GDP) domestic products for the first quarter ended June 30 2021 soared to record 20.1 percent, data released by the government showed on Tuesday.
Jump in GDP figures was mainly due to a weak base last year and also rebounded in consumer spending during the quarter.
Here is the main restriction: * Low basic effects, jumping in the results of the quarterly GDP assisted by basic to large effects.
scope.
Low basic effects show the base year or month compared to current numbers.
For the quarterly GDP this month, we compared it to the growth recorded in the financial year 2020-21.
This is the quarter when the economy has witnessed a record of 24.4 percent record and the GDP reached Rs 26.95 Lakh Crore as against the RS 35.7 lakh Crore which was recorded in Q1 2019-20.
Comparing these quarter GDP figures Rs 32.38 lakh Crore with RS 26.95 lakh reported in the same quarter last year, GDP growth came to 20.1 percent.
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India reported the highest quarterly economic growth after the Slump Pandemic: Key Takeaway
