Country's GDP surges sharply, growth rate broke all records

New Delhi: The country's GDP growth rate has increased by more than 20 percent in the first quarter of the current financial year from April to June 2021. Last year, the country's GDP declined due to the corona epidemic, but now it is showing improvement. The Central Government has released the latest GDP data on Tuesday (August 31).

India's Gross Domestic Product (GDP) growth in the first quarter of FY222 i.e. April 2021 to June 2021 has registered a growth of 20.1%. According to statistics, the GDP in the first quarter of 2021-22 stood at Rs 32.38 lakh crore as against Rs 26.95 lakh crore in the first quarter of 2020-21. This means that the GDP has increased by 20.1 percent on a year-on-year basis. It may be recalled that during April-June last year, the country's GDP declined sharply by 24.4 percent. According to estimates by economists, the country's GDP grew by 20.1 percent in the first quarter of the current fiscal, compared to a 24.4 percent decline in the same period a year ago as a result of lockdown during the first wave of the corona epidemic.

In addition to Gross Domestic Product (GDP), Gross Value Added has also increased at the rate of 18.8 percent in the first quarter. Let's say that looking at the official GDP growth rate figures since the mid-1990s, there has never been such a good growth rate of GDP. That is, the GDP growth of 20.1 percent in the first quarter is the highest quarterly expansion. This is about 13 times the growth of 1.6 percent GDP in the fourth quarter of FY21.

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