Corona caused GDP to fall 23.9 percent in April-June

GDP stood at Rs 26.90 lakh crore in the first quarter of FY20-21 as against Rs 35.35 lakh crore in the same period last year.

Core sector output declines for fifth straight month: Core sector output down 9.6 per cent in July

(PTI) New Delhi, Ta. Monday, August 31, 2020

Amid the Corona epidemic, India's GDP fell by 23.9 per cent in the first quarter of the current financial year, from April to June, according to figures released by the National Statistics Office (NSO).

The first quarter of this year has seen a sharp decline in GDP due to the lockdown announced by the government following Corona. With the exception of agriculture, all sectors, including manufacturing and construction, have seen a sharp decline.

India's GDP grew by 5.2 per cent in the same period last year, according to NSO data. The government of India had announced a nationwide lockdown from March 25 to prevent the spread of Corona.

The manufacturing sector declined by 39.3 per cent. The same sector grew by 3 per cent in the same period last year. The construction sector saw a decline of 50.3 per cent. The same sector grew by 5.2 per cent in the same period last year. The mining sector saw a decline of 23.3 per cent. The same sector grew by 4.7 per cent in the same period last year.

The NSO said in a statement that based on the base price of 2011-12, the GDP in the first quarter of the financial year 2020-21 stood at Rs 26.90 lakh crore. 35.35 lakh crore during the same period last year. Which showed a decrease of 23.9 per cent.

GDP grew by 5.2 per cent in the same period last year. China's GDP grew 3.2 percent in the April-June quarter. The January-March quarter saw a 6.8 per cent decline in GDP.

On the other hand, production of steel, refinery goods and cement declined for the fifth month in a row. Production in the eight core sectors declined by 9.6 per cent in July.

July, 2019 saw a 2.6 per cent growth in output in the light core sector, according to data released by the Ministry of Commerce and Industry. Apart from fertilizers, seven sectors - coal, crude oil, natural gas, refinery goods, steel, cement and electricity - saw a decline in production. Fertilizer production grew by 6.9 per cent in July, 2020.

Unorganized sector collapsed due to note ban, GST, lockdown: Rahul

Congress leader Rahul Gandhi today accused the Modi government of cracking down on the country's unorganized sector. The BJP laughed at Rahul and said that he needed to release a video on G-23. The BJP has made the remarks in reference to 23 leaders who wrote a letter to the Congress president for the revival of the party. In a video released on the country's economy today, Rahul said the BJP government has been attacking the country's unorganized sector for the last six years. Unorganized sector has been hit hard by note ban, faulty GST and lockdown.