India's Q1 GDP growth zooms record 20.1%, but here's why it's deceptive
New Delhi, Aug. 31 -- India's economy grew by 20.1 per cent in the first quarter (April-June) of 2021-22, official data showed on Tuesday. This is the country's best ever quarterly figures since the mid-1990s when official quarterly data was available.
The gross domestic product (GDP) contracted by 24.4 per cent in the corresponding April-June quarter of 2020-21, according to data released by the National Statistical Office (NSO). This is also a sharp up from the 1.6 per cent growth in the previous quarter (Q4 of 2020-21).
Low-base of the year-ago period, coupled with pent-up demand and eased COVID-19 restrictions contributed to the growth. It is also to note that the growth is in comparison to the GDP figures of the same quarter in the...
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