New Delhi: The gross domestic product (GDP) has contracted 7.5 per cent in the second quarter ( July-September ) period, as the economy showed the sign of rebound from a record slump of 23.9 per cent in the previous quarter.
Today’s data showed data released by the Ministry of Statistics and Programme Implementation on Friday, however confirms that the economy’s first technical recession – which is two consecutive quarters of contraction in GDP – since 1996.
GDP at current prices was estimated at Rs 47.22 lakh crore, showing a contraction of 4.0 percent.
GDP at Constant (2011-12) Prices in Q2 of 2020-21 is estimated at ₹ 33.14 lakh crore, as against ₹ 35.84 lakh crore in Q2 of 2019-20, showing a contraction of 7.5 percent as compared to 4.4 percent growth in Q2 2019-20. Quarterly GVA at Basic Prices at Constant (2011-12) Prices for Q2 of 2020-21 is estimated at ₹30.49 lakh crore, as against ₹ 32.78 lakh crore in Q2 of 2019-20, showing a contraction of 7.0 percent.