New Delhi: The Indian economy has come out of recession and it grew at a rate of 0.4 per cent in the third quarter of October-December 2020 in the current financial year 2020-21. Earlier, there was a decline of 24.4 per cent in the first quarter of the current financial and 7.3 per cent in the second quarter. With growth in the third quarter, India became one of the countries in which the economy improved in the fourth quarter of 2020 (October-December 2020) last year, while in some European countries, the decline in the July-September 2020 quarter exceeded the October-December 2020 quarter. Stayed in Although cases of corona infection are increasing once again from the last few, lockdowns are being imposed at the local level. This may affect the gains achieved in the current fiscal quarter. According to the SBI Ecowrap report, the fourth quarter may fall in January-March 2021.
According to the SBI report, if we talk about the entire financial year, GDP may fall by 8 percent and GVA may fall by 6.5 percent. However, for the next financial year 2021-22, real GDP growth can be 11 per cent and nominal GDP 15 per cent. According to the SBI EcoRap report, only electricity, gas, water supply and other utility services are expected to grow in FY21 except agriculture.
