Economic Survey Upshot: Govt revises growth rate for 2019-20 downwards to 4 per cent


PTI, Jan 29, 2021, 7:03 PM IST

The government on Friday revised downwards the economic growth rate for 2019-20 to 4 per cent from 4.2 per cent estimated earlier. “Real GDP or GDP at constant (2011-12) prices for the years 2019-20 and 2018-19 stands at Rs 145.69 lakh crore and Rs 140.03 lakh crore, respectively, showing a growth of 4.0 per cent during 2019-20 and 6.5 per cent during 2018-19,” National Statistical Office said in revised national account data released on Friday.

The revision comes on a day when the Economic Survey 2021 was tabled in Parliament by Finance Minister Nirmala Sitharaman which predicted that India’s economy is likely to rebound with an 11 per cent growth in the next financial year as it makes a ‘V-shaped’ recovery after witnessing a pandemic-led carnage. The Gross Domestic Product (GDP) is projected to contract by a record 7.7 per cent in the current fiscal ending March 31, 2021, it said.

India witnessed its last annual contraction of 5.2 per cent in fiscal year 1979-80. The Economic Survey 2020-21 said the agriculture sector is the only silver lining while services, manufacturing and construction were most hit by the lockdown that was imposed to curb the outbreak of the COVID-19 pandemic.

India is expected to witness current account surplus during the current financial year after a gap of 17 years, it said.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Actress Kasthuri released from jail, says ‘I thank those who made me raging storm’

Kidnapped for ransom in 1998, 26/11 survivor Gautam Adani faces biggest trial

100 engineering colleges in Karnataka to be ‘adopted’ by corporates by next year: IT Minister Kharge

Siddaramaiah defends BPL ration card cancellation, says only ineligible beneficiaries affected

China announces new policy measures to protect its exports from Trump’s new tariff threat

Renovated Medical Oncology OPD and Chemotherapy Day Care Centre inaugurated at Kasturba Hospital, Manipal

Karnataka Health Minister justifies revision of user fees in state-run hospitals

Related Articles More

Kidnapped for ransom in 1998, 26/11 survivor Gautam Adani faces biggest trial

Gautam Adani charged in US with USD 250 mn bribery, fraud

India’s GDP growth likely to slip at 6.5 pc, maintains 7 pc estimate for FY25: Icra

RBI cautions public about ‘deepfake’ video of governor being circulated on social media

We disagree with decision, plan to appeal: Meta on CCI imposing Rs 213-cr penalty

MUST WATCH

Christmas Cake Fruit Mixing

DK Shivakumar

Rose Cultivation

Geethotsava

Naxal Operation


Latest Additions

Siddaramaiah says confident of winning all three bypolls in Karnataka

Hop on! IT Minister Priyank Kharge checks out Uber Shuttle at Bengaluru Tech Summit

Actress Kasthuri released from jail, says ‘I thank those who made me raging storm’

Kidnapped for ransom in 1998, 26/11 survivor Gautam Adani faces biggest trial

AIMPLB to hold its annual general sessions in Bengaluru from November 23

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.