City
Epaper

Yet to recover fully from decline last year, says Chidambaram on Q1 GDP growth

By ANI | Updated: August 31, 2021 20:00 IST

Soon after, government data released today showed that India's GDP grew by 20.1 per cent in the April to June quarter (Q1 FY22) as compared to contraction of 24.4 per cent in Q1 FY21, former Finance Minister and senior Congress leader P Chidambaram said that the data signifies that in the first quarter of this year, the country has not fully recovered from the decline of last year."

Open in App

Soon after, government data released today showed that India's GDP grew by 20.1 per cent in the April to June quarter (Q1 FY22) as compared to contraction of 24.4 per cent in Q1 FY21, former Finance Minister and senior Congress leader P Chidambaram said that the data signifies that in the first quarter of this year, the country has not fully recovered from the decline of last year."

"Before we 'celebrate' the 20.1 per cent GDP growth in Q1 (April-June) of 2021-22, please pause to consider the following. This 'growth' is on a low, actually negative, base of (-) 24.4 per cent in Q1 of 2020-21," tweeted the Congress leader.

Chidambaram further said that this data signifies "in the first quarter of this year, we have not fully recovered from the decline of last year."

"We are still below the GDP level in the first quarter of the pre-pandemic year 2019-20. We have still some distance to go before the economy can be said to have achieved the pre-pandemic level," he said.

Earlier today, the National Statistical Office (NSO) stated that "a growth of 20.1 per cent as compared to contraction of 24.4 per cent in Q1 2020-21."

"GDP at constant (2011-12) prices in Q1 of 2021-22 is estimated at Rs 32.38 lakh crore as against Rs 26.95 lakh crore in Q1 of 2020-21, marking a growth of 20.1 per cent as compared to contraction of 24.4 per cent in Q1 2020-21," said NSO.

Quarterly GVA at basic price at constant (2011-12) prices for Q1 of 2021-22 is estimated at Rs 30.48 lakh crore as against Rs 25.66 lakh crore in Q1 of 2020-21, showing a growth of 18.8 per cent.

GDP at current prices in the year Q1 2021-22 is estimated at Rs 51.23 lakh crore as against Rs 38.89 lakh crore in Q1 2020-21, showing a growth of 31.7 per cent as compared to contraction of 22.3 per cent in Q1 2020-21.

GVA at basic price at current prices in Q1 2021-22 is estimated at Rs 46.2 lakh crore as against Rs 36.53 lakh crore in Q1 2020-21, showing a growth of 26.5 per cent.

( With inputs from ANI )

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: congressP ChidambaramNational Statistical Office
Open in App

Related Stories

MumbaiMumbai: Shiv Sena Protests Outside Congress Office Over Prithviraj Chavan’s Remarks on Malegaon Blast Verdict (VIDEO)

Maharashtra'Congress Tried to Push Narrative to Appease Vote Bank': Maharashtra CM Devendra Fadnavis on Malegaon Blast Case Verdict

NationalRahul Gandhi Questions PM Modi on Trump’s “Five Jets Shot Down” Claims, Says “Country Has Right To Know”

Maharashtra'Teach Marathi in Madrasas': Nitesh Rane Sparks Row Over Marathi Language (Watch Video)

NationalRSS Chief Mohan Bhagwat Says Political Leaders Should Step Aside at 75; Opposition Points Fingers at PM Modi

National Realted Stories

NationalKedarnath Yatra halted, schools shut as torrential rain wreaks havoc in U'khand

National14 TN fishermen arrested by Sri Lankan Navy

NationalAmid SIR row TN registers over 12 lakh migrant workers

NationalAirports Across India on High Alert, Security Beefed Up Following Terror Threat Warning Ahead of Independence Day 2025

NationalUttarkashi cloudburst: Indian Army intensifies rescue operations