The estimates of Gross Domestic Product (GDP) for the first quarter (April-June) Q1 of 2020-21 has been released by the National Statistical Office(NSO), Ministry of Statistics and Programme Implementation. NSSO has released the GDP estimates at both Constant (2011-12) and Current Prices.
According to the latest release, the GDP at Constant (2011-12) Prices in Q1 of 2020-21 is estimated at Rs 26.90 lakh crore. This value was Rs 35.35 lakh crore in Q1 of 2019-20. Hence, the Indian economy has experienced a contraction of 23.9% as compared to 5.2% growth in Q1 2019-20.
While the GDP at Current Prices in the year Q1 2020-21 is estimated at Rs 38.08 lakh crore. This value was Rs 49.18 lakh crore in Q1 2019-20. Hence, it showed a contraction of 22.6% as compared to 8.1% growth in Q1 2019-20.
Important takeaways for all competitive exams:
- Ministers of State (I/C) for Statistics and Programme Implementation: Rao Inderjit Singh.