(Video) Rajya Sabha TV (RSTV) The Big Picture: GDP Figures and Economic Outlook

(Video) Rajya Sabha TV (RSTV) The Big Picture: GDP Figures and Economic Outlook

Topic: GDP Figures and Economic Outlook

Guest:

  • Dr. Arvind Virmani, (Chairman, EGROW Foundation)
  • Subhomoy Bhattacharjee, (Consulting Editor, The Business Standard)

Topic Description:

India’s GDP grew 1.6% in the fourth quarter of 2020-21, signalling a sharp recovery that started after two consecutive quarters of contraction due to the impact of the strict lockdown. The data released by the National Statistical Office on Monday showed that the recovery had gathered strength in the fourth quarter of 2020-21, before the second wave hit the economy. Economists attributed the growth recovery in the March quarter to the unlocking of economic activity. The recovery in the second half of 2020-21 was sharp. In fact, India was among the few leading global economies that witnessed positive year-on-year growth in the six months of October 20-March’21, according to an analysis by Care Ratings. However, for the full year, GDP contracted 7.3%. Although, it is the sharpest fall in four decades, the numbers are better than what was expected – i.e. at 8%.

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Courtesy: RSTV