Chief Economic Advisor K V Subramanian has said that India's Gross Domestic Product (GDP) estimates for the second quarter of 2020-21 is quite encouraging in comparison to the first quarter. Talking to media persons in New Delhi yesterday, Mr. Subramanian said, manufacturing has recorded a positive growth of 0.6 percent, and utility has grown by 4.4 percent and Agriculture grew by 3.4 percent in the second quarter. Mr. Subramanian said that the broad recovery is underway.
India's GDP contracted by 7.5 percent in the second quarter, from July to September of 2020-21. According to the Ministry of Statistics and Programme Implementation, Gross Value Added (GVA) came in at minus 7 percent.
Some sectors have bounced back with the resumption of economic activities. The electricity, gas, water supply, and other utility services have shown a growth of 4.4 percent. It said agriculture, forestry, and the fishing sector at 3.4 percent and the manufacturing sector showed a marginal growth of 0.6 percent. (AIR NEWS)