New Delhi: While economies around the world are facing recession due to Corona, China has surprised everyone by achieving a record GDP growth of 18.3 percent in the March quarter. It is being said that this record has increased due to good demand in the export and domestic market and the continuous support of small businesses by the government.
However, this increase also seems to be a result of the base effect, as China had already taken measures like lockdown in some cities before other countries and has been at the forefront of dealing with Corona. Due to this in China, there was a steep decline of 6.8 percent in GDP in the quarter from January to March 2020. It is worth mentioning that due to the Corona crisis, China's economy had also seen a huge decline last year. Not only this, the economies of many countries of the world including India had gone into recession. India also saw a record GDP decline of 23.9 percent in June last year. The Indian economy has improved, but India's GDP has increased by only 0.4 percent in the quarter of December 2020. In this context, the edge of China is astonishing.
According to the news agency Reuters, according to the data released by the Chinese government, there has been an increase of 18.3 percent in the gross domestic product (GDP) in the quarter of March 2021. This is the largest increase in GDP history recorded by China since 1992. In China, there is a financial year from January to December, so in this context, it is the first-quarter figure. China's GDP grew by 6.5 percent in the last quarter of December last year.
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