New Delhi: A data released by the National Statistical Office (NSO) on Tuesday showed that India's gross domestic product (GDP) for the first quarter ended June 30, 2021 soared to record high of 20.1 percent.
India's economic growth surged to 20.1 percent in the April-June quarter of this fiscal, helped by a low base of the year-ago period, despite a devastating second wave of COVID-19. The gross domestic product (GDP) had contracted by 24.4 percent in the corresponding April-June quarter of 2020-21, as per data.
The government had imposed a nationwide lockdown at the onset of the COVID-19 pandemic last year. This year, the massive second wave of the pandemic hit the country in the middle of April, which forced states to impose fresh restrictions. However, the economy has still not returned to the pre-COVID level. In value terms, the GDP stood at Rs 32,38,020 Cr in April-June 2021-22, lower than Rs 35,66,708 Cr in the corresponding period of the 2019-20 financial year. The GDP had shrunk to Rs 26,95,421 Cr in April-June last year during the nationwide lockdown. "GDP at Constant (2011-12) Prices in Q1 of 2021-22 is estimated at Rs 32.38 lakh Cr, as against Rs 26.95 lakh Cr in Q1 of 2020-21, showing a growth of 20.1 percent as compared to contraction of 24.4 percent in Q1 2020-21," the NSO said in a statement.