Moneycontrol PRO
Open App

GDP numbers: Data collection affected due to COVID-19 outbreak, says government

The GDP growth for FY2019-20 came in at 4.2 percent, against 6.1 percent in FY 2018-19.

May 29, 2020 / 08:36 PM IST

Data flow from the economic entities has been affected due to the global COVID-19 pandemic and consequent nationwide lockdown measures

implemented since March, government said on May 29.

"As some of these units are yet to resume operations and owing to the fact that the statutory timelines for submitting the requisite financial returns have been extended by the Government, these Estimates are based on the available data," the release said.

Consequently, the estimates (quarterly as well as annual) are likely to undergo revision, the release said.


India's gross domestic product (GDP) grew 3.1 percent during January-March this year, as the COVID-19 induced disruptions appeared to have devastated the broader economy, pummelled by collapsing household spending and shuttered businesses that are battling to stay afloat.


COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more

The GDP growth for FY2019-20 came in at 4.2 percent, against 6.1 percent in FY 2018-19.

It could get worse as restrictions and lockdowns continue to constrain people's movement, severely hurting economic activity. The nationwide lockdown kicked in from March 25, and its actual impact on the economy will show up in the subsequent months when businesses screeched to a standstill.


At 3.1 percent, India’s “real” or inflation-adjusted GDP growth was the lowest in 44 quarters, national income data released by the Central Statistics Office (CSO) on May 29, showed. Asia’s third-largest economy, which was the engine of global growth until recently, was staring at the possibility of slipping into a full-blown recession, the first time in 41 years.
Moneycontrol News
first published: May 29, 2020 08:36 pm
ISO 27001 - BSI Assurance Mark