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GDP shrinks 7.3% in FY21 on covid first wave impact

India pandemic economy Coronavirus Waves
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economy grew at 1.6% in the March quarter against 0.5% in the preceding December quarter, signaling that economic activity was gathering momentum before the second wave of coronavirus pandemic hit the economy.Data released by the Central Statistics Office showed Indian economy shrank 7.3% in FY21 due to the impact of the first wave of the pandemic last year instead of 8% contraction estimated earlier.During the March quarter, gross value added (GVA)—another method of measuring economic activity in the country—grew 3.7% against 1% in the December quarter.

Most economists consider GVA to be a better measure of measuring production in the economy in the current circumstances.In the March quarter, manufacturing activity rebounded to grow at.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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