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Amit Shah Hopes GDP Turns Positive Next Quarter

By Staff

After official data showed that the Indian economy contracted for the second consecutive quarter, Union Home Minister Amit Shah said he hopes the GDP (gross domestic product) will be back to positive territory in the next quarter.

Amit Shah Hopes GDP Turns Positive Next Quarter

Prime Minister Narendra Modi worked hard for the economic recovery and had also announced a package after the crisis due to coronavirus, Shah said after inaugurating two road over-bridges in Ahmedabad through virtual mode.

"As prime minister, Narendrabhai used the time of COVID-19 pandemic to visualise policy-making, keeping in mind its long-term impact on the economy," Shah said.

Without wasting a second, he worked on reforms in many areas like farm sector, electricity, industrial policy, to create a system to maintain the pace of development, he said.

Towards this end, he offered a package of Rs 20 lakh crore for the welfare of poor people and to give pace to the economy, he said.

"As a result, in terms of the recent GDP figure, we are only six per cent behind...and I hope that in the next quarter, the GDP will be in plus (positive)," Shah said.

On Friday, official data showed that GDP contracted by 7.5% in the September-ended quarter, confirming India's entry into a technical recession. The results were better than the April-June data which showed a contraction of 23.9%, the highest ever reported, due to the nationwide lockdown to curb the spread of COVID-19.

The country's economy recovered faster than expected in the July-September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent, according to official data released recently.

Read more about: gdp amit shah
Story first published: Monday, November 30, 2020, 15:22 [IST]
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