India's GDP contracts by 6.6% in 2020-21

[SuvarnaTeja]

India's GDP contracts by 6.6% in 2020-21​

Updated: 31 Jan 2022, 08:48 PM IST

The National Statistical Office (NSO), in its first revised estimates of GDP, has said the Indian economy shrunk by 6.6 per cent in 2020-21, primarily due to the COVID-19 pandemic and nationwide lockdown curbs imposed by the government.

The provisional data released by the government May 2021 had said the GDP contracted by 7.3 per cent in 2020-21.

As per the Ministry of Statistics & Programme Implementation release, real GDP or GDP at constant (2011-12) prices for the years 2020-21 and 2019-20 stands at ₹135.58 lakh crore and ₹145.16 lakh crore, respectively, showing a contraction of 6.6 per cent during 2020-21 as compared to growth of 3.7 per cent during 2019-20.

“Nominal GDP or GDP at current prices for the year 2020-21 is estimated at ₹198.01 lakh crore as against ₹200.75 lakh crore for the year 2019-20, showing a contraction of 1.4 per cent during 2020-21 as compared to growth of 6.2 per cent during 2019-20," the statement said.

At the aggregate level, nominal GVA at basic prices declined by 1.6 per cent during 2020-21 against the growth of 6.9 per cent during 2019-20. In terms of real GVA – GVA at constant (2011-12) basic prices -- there has been a contraction of 4.8 per cent in 2020-21 vs growth of 3.8 per cent in 2019-20, the release added.

During 2020-21, the growth rates of the primary sector (comprising agriculture, forestry, fishing and mining & quarrying), secondary sector (comprising manufacturing, electricity, gas, water supply & other utility services, and construction) and tertiary sector (services) have been estimated as 1.6 per cent, (-)2.8 per cent and (-) 7.8 per cent as against a growth of 1.9 per cent, (-) 6.8 per cent and (-) 8.4 per cent, respectively, in the previous year.

Nominal Net National Income (NNI) or NNI at current prices for the year 2020-21 stands at ₹171.94 lakh crore as against ₹177.17 lakh crore in 2019-20, showing a contraction of 2.9 per cent during 2020-21 as against growth of 6 per cent in the previous year, it stated.

Per Capita Income i.e. Per Capita Net National Income at current prices is estimated at ₹1,32,115 and ₹1,26,855 respectively for the years 2019-20 and 2020-21, it stated.

India's GDP contracts by 6.6% in 2020-21: First revised estimates

The provisional data released by the government in May 2021 had said the GDP contracted by 7.3 per cent in 2020-21.

www.livemint.com

This is because of the stupid policy of Modi to impose lockdowns. Modi needs to learn a lot from Imran Khan.

 

[Bilal9]

Good news.
Earlier it was estimated to be 7.3% contraction (April 2020 to Mar 2021).
But now govt has revised data and it was only 6.6%.
This year growth is 9.2%.

Can you explain for us non-economists, how a 7.3% contraction translates to 9.2% growth?

Everyone else feel free to jump in as well.

@Homo Sapiens and @mb444 bhais your thoughts too...

you do know that they are just trolling right stop explaining

Some trolls are actually waiting for an explanation. Fair is fair.

Don't run away, explain.

 

[faithfulguy]

India contracted by losing dead weight low value added industries while gaining high value industries. India wins again.

actually, India is skipping industrialization and going directly into a service based consumer economy.

In a more micro level, it’s a jobless Indian bragging about his big screen TV he buys on credit when he can’t make the payment. It’s for bragging purpose, just like everything they do.

India is a nation where everyone has the bragging mentality of Donald Trump.

 

[KrimesKaster]

=

In a more micro level, it’s a jobless Indian bragging about his big screen TV he buys on credit when he can’t make the payment. It’s for bragging purpose, just like everything they do.

I doubt it works like that... You are confusing India with USA. The process of obtaining credit is nightmare in India. Indian banks are very stingy in giving any kind of credit.

India is a nation where everyone has the bragging mentality of Donald Trump.

Chinese are worse. They lie like no tomorrow and brag as if they know everything. Those who really know, usually disregard them.

 

[Beast]

Chinese are worse. They lie like no tomorrow and brag as if they know everything. Those who really know, usually disregard them.

Yup man, China put a rover on Mars are all lies. The Chinese space station you see in space are all CGI. The indian Vikram crashed landed on moon are also evil plot by China.

While first man on Mars is an Indian. Jai Hind to Supapowa india 2012.

 

[Bilal9]

Chinese are liars, we all know that.


Two different years. 20-21 and 21-22. Not that hard to understand... unless... well.

We are quite full of ourselves it seems...

Have you ever been to China? Like Shanghai, Shenzhen or Beijing?

Take a trip someday - your bhakt chestbeating will stop immediately.

That is unless you are an itar unrepentant low life, which you may not be...

They got your sad-sack mother of a country, beat like anything. False flagger as usual.

Forget it - they beat the US too, India is no US. Give credit where credit is due....

You're left with no option but one upping Bangladesh.

 

[faithfulguy]

We are quite full of ourselves it seems...

Have you ever been to China? Like Shanghai, Shenzhen or Beijing?

Take a trip someday - your bhakt chestbeating will stop immediately.

That is unless you are an itar unrepentant low life, which you may not be...

They got your sad-sack mother of a country, beat like anything. False flagger as usual.

Forget it - they beat the US too, India is no US. Give credit where credit is due....

You're left with no option but one upping Bangladesh.

Many Indias disregard Chinese achievements because East Asians are only good enough to be servants in their caste system. They want the North East as part of India that is a source of their Dalit cheap labor. There is no way many Indians would accept that China is ahead of India on anything. As to Indians, Chinese are an inferior race. That is how Indians treat all East Asians, not just Chinese. To not be prejudiced is an exception, not a norm, for Indians.

 

[+4vsgorillas-Apebane]

I am because I am born in a country much better than your, my net-worth is north of 20 million dollars and I am 10 times smarter than you can ever hope to be. Know your place.


Look at this reality and shut up you worthless slant. Talk to me when China can even reach equal to USA. Know that China till date is a third world country.

GDP (constant 2015 US$) - China, United States | Data

GDP (constant 2015 US$) - China, United States from The World Bank: Data

data.worldbank.org

Lets face it. Till 2018 (last time when it was checked) 20 million Chinese were defecating in open .

UNICEF Blog

Insights, opinions and behind the scenes of the on-ground work on children’s rights and well-being

blogs.unicef.org

For a comparison, thats half the population of Canada (38 million). Such a pathetic worthless creatures making noise like bunch of crickets.

Spoken like a true Indian.

"My net worth is north of 20 million dollars... Know your place..."

No class at all, just hot air and arrogance.

 

[Andhadhun]

 

[Beast]

Nice PPT but we all know the manipulation.

 

[Andhadhun]

Nice PPT but we all know the manipulation.

Unlike China, we have a CAG Audit every year and its findings are made public by Law.

CAG - Compentrator Auditor General of india

 

[Beast]

Unlike China, we have a CAG Audit every year and its findings are made public by Law.

CAG - Compentrator Auditor General of india

BS, all cahoots and fake manipulation. You think China can fake mars landing by our rovers. Accept the reality China is growing fast. Everybody has their eyes to see the real growth.

Maybe u want to claim our space station in space is also fake and american in cahoot not to expose our CGI report?

Talking about lying in national level.

The most stupid lie the indian can come up with. Trying to use debris of a missile to prove you shot down a F-16? Even 3 years old kid know debris of missile just prove the PAF F-16 down your pathetic fighter jet and not the other way round.
India become a big joke in front of the world by telling everyone India is a country of lying.

 

[Bilal9]

Spoken like a true Indian.

"My net worth is north of 20 million dollars... Know your place..."

No class at all, just hot air and arrogance.

If he thinks his net worth is North of $20 million Canadian, that is the same as most upper middle class Americans and probably not as many Canadians, by proportion. Heck I am probably close to worth that much, all told. Maybe closer to fifteen mil US, if you count my investments and real estate.

But the difference is - hubris vs. humility. Your life can change in nanosecond. Boasting money of all things...

Hot air and arrogance is exactly right. And probably a fourteen year old, going by the maturity of his statements.

"shut up you worthless slant" ? Wow!

@waz, @WebMaster and @The Eagle bhais, is this racist statement worth a permanent ban, or not?

 

[Andhadhun]

BS, all cahoots and fake manipulation. You think China can fake mars landing by our rovers. Accept the reality China is growing fast. Everybody has their eyes to see the real growth.

Maybe u want to claim our space station in space is also fake and american in cahoot not to expose our CGI report?

I don't care about china, nor am I interested in talking about china.

This thread is about India and all data provided are real and verified.

 

[Bilal9]

Unlike China, we have a CAG Audit every year and its findings are made public by Law.

CAG - Compentrator Auditor General of india

CAG (the word is probably "Comptroller" not "Compentrator") is answerable in reality to Modi. Their independence is questionable, especially in modi's India today. Who are you feeding this line of BS to? India all of a sudden Amrika ban giya?

Take anything from Godi Media with a grain of salt....made for Bhakt consumption complete with Paan Parag after the meal....