Latest News
-
Bajaj Group Stock Declares Rs. 60/Share Dividend: Buy Ahead of Record Date On 28 June? -
Rs 45/Share Dividend: Record Date In Due Course; Buy The IT Stock For Dividend Eligiblity? -
175% Dividend: TATA Group Stock Declares Q4 Results; Buy The Rekha Jhunjhunwala Portfolio Stock? -
2:15 Bonus: Tata Group's Penny Stock Below Rs 90, Gives 2,821% Returns In 5 Years: Announces Q4 Report Card -
Rs. 240/Share Dividend: May 7 Fixed As Record Date; Buy The IT Stock To Be Eligible? -
1:5 & 1:2 Split, Rs 6/Sh Dividend: Fertilizer Stock Coming Up With 600% Payout; Record, Payment Dates Fixed -
Cube Highways Trust Set to Acquire Seven Highway Assets Worth Rs 5,172 Crore -
1:10 Split, Rs 51 Dividend: Accumulate Tata Stock, TP Rs 170; Big Update On £1.25 Bn Investment -
Tech Mahindra Sets Three-Year Plan for Robust Growth and Market Leadership by FY27 -
Tech Mahindra Q4 Net Profit Falls 41%, Announces Growth Strategy
GDP For FY21 Contracts By 7.3%, Q4FY21 GDP At 1.6%
The GDP number for full year FY21 has come in better than street estimates at -7.3%. Gross Value Added (GVA) is at 3.7% for the fourth quarter. So, the economy seems to be in a better shape in comparison to what street estimated. For the Q4FY21 GDP growth has been at 1.6% .
In fact the GDP number suggest there has been decent growth in sectors including manufacturing (6.9%), agriculture (3.1%) and construction (14.5%) among others in the last quarter ended March 2021.
The Covid ravaged year 2020-21 witnessed the steepest contraction ever since the calculation of national accounts began in the early 1950s. Also, this year's contraction was the first since 1980-81.
Previous quarter GDP figures of FY21
In the third quarter ended December, India came out of technical recession and registered a growth of 0.4 percent, after having faced de-growth for earlier 2 quarters on account of Covid 19 led fall-out.
The National Statistics Office (NSO) in its second advance estimate of national income released in February, there was forecasted a contraction of 8 percent in FY21.
As per rating agency ICRA's estimates, for the full year the economy shall shrink by 7.3 percent, while for the last quarter, the GDP will grow by 2 percent.
On the GDP data, Chief Economic Advisor Krishnamurthy Subramanian said, "After the quarter one numbers were released, we had said things will get better from here and had predicted growth. Heartening to know those projections hahave held. Annual numbers signify a revival in demand".
GoodReturns.in
