GDP contracts by 7.5% in Q2; here's a look at how various sectors performed
It is a significant improvement in comparison to India’s GDP in the April-June quarter of the current fiscal which saw an unprecedented 23.9 percent drop during the early stages of nationwide lockdown induced by novel coronavirus pandemic. Sectors such as agriculture, fishing continues to grow in the second quarter of FY21.
According to the data released by National Statistics Office (NSO), India’s economy contracted by 7.5 percent in the second quarter (July-September) of FY21. However, it is a significant improvement in comparison to India’s GDP in the April-June quarter of the current fiscal which saw an unprecedented 23.9 percent drop during the early stages of nationwide lockdown induced by novel coronavirus pandemic. Experts are predicting that the economy could be back in positive growth territory by the January-March quarter. Take a look to know the changes in the respective sectors. (Image: Moneycontrol)
Agriculture, forestry and fishing sector recorded a growth of 3.4 percent.
Manufacturing, mining and construction sector contracted 0.6 percent, 9.1 percent and 8.6 percent respectively.
Among the worst affected sector was trade, hotels, transport, communication and other related services whose growth shrunken by 15.6 percent.
Electricity, gas, water supply growth demonstrate an encouraging recovery by 4.4 percent.
Financial, real estate and professionals services contracted by 8.1 percent in Q2FY21.
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