Economy Contracted By 6.6% In 2020-21: NSO
Economy had contracted by 6.6 per cent in 2020-21 due to the outbreak of the Coronavirus pandemic and the subsequent national lockdown which was imposed to contain the infection.
As per the provisional estimates released in May 2021, the GDP had contracted by 7.3 per cent in 2020-21.
“Real GDP or GDP at constant (2011-12) prices for the years 2020-21 and 2019-20 stands at Rs 135.58 lakh crore and Rs 145.16 lakh crore, respectively, showing a contraction of 6.6 per cent during 2020-21 as compared to growth of 3.7 per cent during 2019-20,” National Statistical Office (NSO) said in the revised national account data released on Monday.
It has also revised downward the real GDP growth number for 2019-20 to 3.7 per cent as against the earlier estimate of 4 per cent.
"Real GDP or GDP at constant (2011-12) prices for the years 2020-21 and 2019-20 stands at Rs 135.58 lakh crore and Rs 145.16 lakh crore, respectively, showing a contraction of 6.6 per cent during 2020-21 as compared to growth of 3.7 per cent during 2019-20," the NSO said.
