India GDP India's GDP turns positive in December quarter, moves up by 0.4 pct
New Delhi: India's October-December quarter witnessed positive growth as the country's gross domestic product (GDP) grew by 0.4 percent year-on-year, as per government released data on Friday.
India witnessed the positive move after GDP figures contracted for the past two quarters.
"GDP at Constant (2011-12) Prices in Q3 of 2020-21 is estimated at ₹ 36.22 lakh crore, as against ₹ 36.08 lakh crore in Q3 of 2019-20, showing a growth of 0.4 percent," read the Indian government released statement.
The measures taken by the Government to contain spread of the Covid-19 pandemic have had an impact on the economic activities as well as on the data collection mechanisms.
The data challenges in the case of other underlying macro-economic indicators like IIP and CPI, used in the estimation of National Accounts aggregates and specific measures, if any, taken by the government in the following months with a view to address the pandemic led economic situation will have implications on subsequent revision of these estimates.
Meanwhile,the combined Index of Eight Core Industries stood at 137.6 in January,2021, which increasedby 0.1 (provisional) per cent as compared to the Index of January, 2020.Its cumulative growth during April to January, 2020-21 has been(-) 8.8%.
Final growth rate of Index of Eight Core Industries for October’2020 is revised to(-) 0.5%from its provisional level(-2.5%).
The Eight Core Industries comprise 40.27 per cent of the weight of items.
The summary of the Index of Eight Core Industries is given below:
Coal-Coal production (weight: 10.33per cent) declined by 1.8 per cent in January, 2021 over January,2020. Its cumulative index declined by 1.9 per cent during April toJanuary, 2020-21over corresponding period of the previous year.
Crude Oil-Crude Oil production (weight: 8.98per cent) declined by 4.6 per cent inJanuary, 2021 over January,2020. Its cumulative index declined by 5.6 per cent during April toJanuary, 2020-21over the corresponding period of previous year.
Natural Gas- The Natural Gas production (weight:6.88per cent) declinedby2.0 per cent in January, 2021 over January,2020. Its cumulative index declined by 10.7 per cent during April to January, 2020-21 over the corresponding period of previous year.
Petroleum Refinery Products- Petroleum Refinery production (weight:28.04per cent) declined by 2.6 per cent in January, 2021 over January,2020. Its cumulative index declinedby 12.4per cent during April to January, 2020-21over the corresponding period of previous year.
Fertilizers-Fertilizers production (weight:2.63 per cent) increasedby 2.7 per cent in January,2021 overJanuary,2020. Its cumulative index increasedby 3.0 per cent during April toJanuary, 2020-21 over the corresponding period of previous year.
Steel-Steel production (weight:17.92per cent)increased by 2.6 per cent in January, 2021 over January,2020. Its cumulative index declined by 14.0per centduring April to January, 2020-21 over the corresponding period of previous year.
Cement-Cement production (weight:5.37per cent) declinedby5.9per cent in January, 2021 overJanuary,2020. Its cumulative index declinedby16.6per centduring April to January, 2020-21over the corresponding period of previous year.
Electricity- Electricity generation (weight:19.85per cent) increasedby5.1per cent in January,2021over January,2020. Its cumulative indexdeclined by 2.7 per cent duringApril to January, 2020-21over the corresponding period of previous year.
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