India's GDP Contracts By Record 7.3% For Year, Q4 Showed Revival

INDIA Team Latestly|

India's annual economic growth rate picked up in January-March compared with the previous three months. However, economists are increasingly pessimistic about this quarter after a huge second wave of Covid-19 infections hit the country last month. A slow vaccination drive & local restrictions after a massive second wave of infections & deaths across the country have hit economic activities like retail, construction & transport while putting millions out of work. India has recorded 28 million Covid-19 infections, second only to the United States & 329,100 deaths as of May 31, although the rise has begun to slow. Gross domestic product grew 1.6 per cent in January-March compared with the same period a year earlier, mainly driven by state spending & manufacturing sector growth, data from the statistics ministry showed on May 31. Economists have cut their growth forecast for the fiscal year that began in April to 8 per cent-10 per cent from an earlier 11 per cent - 12 per cent. Watch the video to know more.

City Petrol Diesel
New Delhi 96.66 87.41
Kolkata 96.58 90.25
Mumbai 102.82 94.84
Chennai 97.91 92.04
View all
Company Price Change Value
Axis Banks 1050.00 50.00 533.00
Reliance 1050.00 33.00 533.00
Samsung 1050.00 33.00 533.00
Currency Price Change
USD 73.9500 0.10
GBP 103.1950 -0.21
EUR 88.9650 0.08