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India GDP Q1 Data: India’s GDP grows 20.1% in Q1

India GDP Q1 Data: The country's Gross Domestic Product (GDP) grew 20.1 per cent during April-June quarter while the Gross Value Added (GVA) was 18.8 per cent, data from the Ministry of Statistics & Programme Implementation (MoSPI) showed.

India GDP Q1 Data: India’s Gross Domestic Product (GDP) for the April-June quarter (Q1) of the ongoing financial year 2021-22 (FY22) grew by 20.1 per cent, as per the provisional estimates of GDP released by the Ministry of Statistics and Programme Implementation (MoSPI) on Tuesday.

The Gross Value Added (GVA) at basic prices during Q1 of FY22 was 18.8 per cent, against (-)22.4 per cent in the corresponding quarter year ago, the data showed.

The sharp rise in Q1 GDP data can be mainly attributed to a low base last year. The Indian economy had contracted by a record (-)24.4 per cent in the corresponding quarter last year owing to the impact of the nationwide lockdown that was imposed to curb the transmission of the Covid-19, which brought all non-essential activities to a halt.

A recent Reuters poll of 41 economists showed gross domestic product rose 20.0 per cent in the three-month period ended June.

In the first quarter, the manufacturing sector, rose by 49.6 per cent on year, while the construction sector grew at 68.3 per cent. The sector of trade, hotels, transport, communication & services related to broadcasting gained 34.3 per cent. Apart from this, the agriculture, forestry and fishing sector grew 4.5 per cent in Q1.

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