Agriculture, Industrial Sectors Accelerate As India Posts 0.4% Growth In December Quarter

The economic system snapped from recession and returned to development within the October-December quarter after two successive quarters of contraction in development. The gross home product (GDP) grew by 0.4 per cent within the third quarter, which is a pointy enchancment from the de-growth of 23.9 per cent and seven.5 per cent within the earlier two quarters. India is among the few economies that witnessed constructive year-on-year development within the October-December interval. The positive aspects within the economic system within the third quarter have been pushed by development in sectors resembling agriculture, manufacturing, electrical energy, gasoline, water and utility providers, development and monetary, actual property, {and professional} providers. (Additionally Learn: India Exits Recession With 0.4% Quarterly Growth )

The agriculture sector grew by 3.9 per cent within the third quarter of the monetary yr, in comparison with three per cent development within the year-ago interval. The gradual unlocking of the economic system with the regular decline in COVID-19 instances in the course of the three-month interval boosted consumption and exercise throughout sectors. 

The agriculture and industrial sector witnessed development, whereas the contact intensive providers sectors registered de-growth. The economic sector witnessed a development of two.7 per cent supported by the expansion in manufacturing (1.6 per cent), electrical energy, gasoline, water and utility providers (7.3 per cent) and development (6.2 per cent).

The output of eight core infrastructure sectors grew 0.1 per cent in January 2021, in comparison with final yr, based on authorities knowledge. The infrastructure output, which includes eight core sectors together with coal, crude oil, and electrical energy, fell by 8.8 per cent throughout April-January interval, towards a development price of 0.8 per cent in the identical interval of the earlier yr. (Additionally Learn: Infrastructure Output Of Core Sectors Up 0.1% In January 2021 )

Regardless of the enhancements, the expansion charges are considerably decrease than these within the year-ago interval. The actual GDP development within the third quarter of the present monetary yr is 0.4 per cent – notably decrease than the three.3 per cent development within the corresponding quarter of the earlier monetary yr.