New Delhi: Indian economy has recovered from the recession. It achieved a GDP growth rate of 0.4 per cent in the third quarter of the financial year 2020-21 and along with it has returned to the track of positive economic growth. India’s GDP growth rate was negative in the first two quarters of FY 2020-21. In the Corona period, the growth rate was 23.9 percent in the first quarter due to the effect of lockdown, while in the second quarter it was -7.5 percent.
However, it was estimated that the growth rate could be 0.5 percent in the third quarter of the financial year. But according to data from the National Statistics Office, GDP growth in the third quarter of October-December was 0.4 percent. India has joined the select countries which have regained positive growth rate in the late 2020s. But there is a concern in some parts of the country due to the increase in corona cases again.
According to the NSO, GDP was -23.9 per cent in the first quarter of April-June of the fiscal year 2020-21 due to the effects of restrictions of the Corona period, while it improved slightly to -7.5 per cent in the second quarter of July-September. In this way, India was technically hit by recession.
