20th October 2020

Confidant Classes

A Premier Judicial Service Coaching

FY 2019-20 GDP growth rate 4.2%

The Indian economy grew at a rate of 3.1% in the fourth quarter of the last fiscal year, with the publication of Q4 GDP growth rate data MOSPI, the entire period growth rate of 2019-2020 pegged at 4.2%. The government also reduced GDP growth in the first, second, and third quarters to 5.2%, 4.4%, and 4.1%, respectively. GDP growth in the fourth quarter becomes significant as it includes the one-week lockdown numbers.

Real GDP or Gross Domestic Product (GDP) at constant prices in the year 2019-20 is now estimated to attain a level of Rs 145.66 lakh crore, as against the first revised estimate of FY19 GDP of Rs 139.81 lakh crore. GDP at constant prices in Q4 of 2019-20 is estimated at Rs 38.04 lakh crore, compared to Rs 36.90 lakh crore in Q4 of 2018-19.

The government has also revised down the GDP growth in Q1, Q2, and Q3 to 5.2 per cent, 4.4 per cent, and 4.1 per cent respectively., July-Sep GDP growth revised to 4.4% from 5.1% earlier and Oct-Dec GDP growth revised to 4.1% from 4.7% earlier.

Q4 growth highlights

  • Manufacturing sector growth at -1.4% vs 2.1% on year.
  • Mining sector growth at 5.2% against -4.8% on year.
  • Farm sector growth is at 5.9% against 1.6% on year.
  • Jan-March GVA has expanded 3% on year.
  • Govt sees FY20 GDP growth at 4.2% on-year.

Meanwhile, the growth rate of eight core industries for April 2020 fell by 38.1 per cent, compared to a fall of 9 per cent in March 2020. 

  • The output of electricity fell by 22.8 per cent,
  • output of cement fell by 86 per cent;
  • steel by 84 per cent;
  • fertilizer by 4.5;
  • refinery by 24.2 per cent;
  • crude oil by 6.4 per cent; and
  • Coal by 15.5 per cent in April 2020.

Even before the appearance of coronavirus cases in India, the country’s economy was struggling for a prolonged economic slowdown. A significant drop in economic activity due to the national lockdown led by the coronavirus in the first quarter of the current tax could cause the quarterly GDP to fall.

According to the SBI Ecowrap report the contraction of GDP in the first quarter of FY21 can reach 40%, indicating the possibility of a smart recovery of second-quarter GDP of up to 7.1%, thanks to the country’s capacity to support demand, OSE chief economist Soumya Kanti Ghosh said that the loss of GDP in the first quarter of fiscal 2011 will be huge and could even exceed 40%.

Judiciary FAQ’s Download

Judiciary FAQ’s Download

WWW.CONFIDANTCLASSES.IN-1Download
Read More
Cinemas reopened

Cinemas reopened

After being closed for nearly seven months, cinemas outside containment zones in various Indian states reopened on October 15. But…
Read More
Amy Coney Barrett used the term “sexual preference”

Amy Coney Barrett used the term “sexual preference”

During her confirmation hearings on Capitol Hill earlier this week, US Supreme Court nominee Amy Coney Barrett sparked considerable outrage…
Read More
Daily NEWS Summary: 16.10.2020

Daily NEWS Summary: 16.10.2020

Supreme Court Appoints Former Judge Madan Lokur As One-Man Group To Prevent Stubble-Burning Smog Former Supreme Court Justice Madan B….
Read More
Daily NEWS Summary: 15.10.2020

Daily NEWS Summary: 15.10.2020

Borrowing center Rs. Rs 1.1 crore to compensate states for GST deficit – in an apparent degradation of their position…
Read More
Daily NEWS Summary: 14.10.2020

Daily NEWS Summary: 14.10.2020

Following Mehbooba’s release, Farooq Abdullah calls a meeting of Gupkar signatories on October 15 National Conference (NC) President Farooq Abdullah…
Read More
“Elephant corridor”

“Elephant corridor”

The Supreme Court on Wednesday upheld the power of the Tamil Nadu government to notify an “elephant corridor” and protect…
Read More
GST Compensation conflict

GST Compensation conflict

On Tuesday, the Center allowed 20 states to raise ₹ 68,825 crore through open market loans to fill the GST…
Read More
Daily NEWS Summary: 13.10.2020

Daily NEWS Summary: 13.10.2020

India’s economy is expected to contract 10.3%, says IMF Indian economy is expected to reach -10.3% (i.e. witness a contraction)…
Read More
Daily NEWS Summary: 12.10.2020

Daily NEWS Summary: 12.10.2020

FM proposes new measures to stimulate demand Finance Minister Nirmala Sitharaman unveiled new proposals to boost demand in the economy…
Read More
Mumbai Power Cut

Mumbai Power Cut

Large blackouts like the one that hit Mumbai and neighboring areas on Monday morning (October 12) can be dangerous events…
Read More
[smartslider3 slider=”2″]

AatmNirbhar Bharat CORONA VACCINE Coronavirus COVID COVID 19 COVID19 covidtimes COVID TIMES COVID VACCINE DAILY NEWS SUMMARY DRDO Facebook Fiscal deficit GI Tag GST GST COMPENSATION ICMR indian economy INDO-CHINA BORDER DISPUTE Indo-China border disputes INDO-CHINA CONFLICT JIO KAMALA HARRIS LAC lockdown Mann ki baat MIGRANTS MPC MSP NOBEL PRIZE nobel prize 2020 PRASHANT BHUSHAN RAFALE FIGHTER JET RAHUL GANDHI RAJASTHAN POLITICAL CRISIS RAJSTHAN POLITICAL CRISIS RAM TEMPLE RBI RELIANCE INDUSTRIES LIMITED REPO Rate RIL Supreme Court supreme court of india कोरोना वायरस भारत-चीन सीमा विवाद

error

Enjoy this? Please spread the word :)