NEW DELHI, Sept 1– India’s gross domestic product (GDP) shrank 23.9 per cent in the April-June quarter as business activities decelerate due to the COVID-19 pandemic.
GDP in the first quarter of the financial year 2020-21 (April-March) was estimated at 26.9 trillion rupees (US$366 billion) compared with 35.35 trillion rupees (US$480 billion) in the same period of 2019-20, the National Statistical Office (NSO) said on Monday.
“With a view to contain spread of the Covid-19 pandemic, restrictions were imposed on the economic activities not deemed essential, as also on the movement of people from 25 March, 2020.
“Though the restrictions have been gradually lifted, there has been an impact on the economic activities as well as on the data collection mechanisms,” NSO said in a statement.
Gross value added (GVA) growth in the manufacturing sector shrank by 39.3 per cent in the first quarter of 2020-21, while the construction sector GVA contracted by 50.3 per cent.
However, the farm sector GVA rose 3.4 per cent.