Indian economy on the rise again: GDP growth of 20.1% in the first quarter
During the April-June period of the first quarter of the 2021-22 financial year, the country's GDP grew by 20.10 percent after it had fallen to minus 24.4 percent during the Govt curfew during the same period last year and this is a huge boost for indian Economy right now. Asia's third-largest economy belonged to India, but it had a sluggish growth even before the COVID wave struck and the Modi-led government was forced to initiate a complete lockdown by march 2020.
And due to this, all the sectors such as manufacturing and service were affected and in the first quarter of that year, GDP shrank to an all-time low of minus 24.40 percent and by the end of the 2020-21 fiscal year, GDP growth was minus 7.30 percent and it was a complete shocking factor for everyone as economy sunk totally.
Gradual curfews were relaxed by various state Governments and now GDP returned to normal. The previous January-March quarter saw a rise of 1.60 percent and According to the National Bureau of Statistics, the first fiscal year 2021-22 saw a single jump of 20.10 percent and this is a very positive thing as indian GDP is back on its feet again and this would boost the economy from the crisis.