The Central Bureau of Statistics (CSO) has confirmed that India’s economy expanded by 1.6% during the January-March period of this year, but shrank by 7.3% in the full financial year 2020-21 due to the Corona virus novel.
India, one of the G20 countries, has had its economy expand for two consecutive quarters, resulting in gross domestic product (GDP) growth of 0.5% in the third quarter of the 2020-21 financial year.
Its deficit for the fiscal year 2020-21, which ended March 31, was 9.3% of GDP. Infrastructure production in April increased by 56.1% compared to the same month last year.
After recording a growth rate of 4% in the entire 2019-20 financial year, the country still has a long way to go to fully recover from the epidemic.
The number of new COVID-19 cases in India has recently risen, while the shortage of vaccines has increased.
Since the outbreak, more than 28 million cases have plagued the country, second only to Brazil and the United States, according to Johns Hopkins University in Maryland. Moreover, nearly 330,000 people have died.
*Maria Paula Trivino contributed to write this note.
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