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LATEST NEWS UPDATES | For the first time, farm sector set to grow even as GDP sees a contraction -Harish Damodaran

For the first time, farm sector set to grow even as GDP sees a contraction -Harish Damodaran

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published Published on Aug 24, 2020   modified Modified on Aug 24, 2020

-The Indian Express

The country’s GDP registered an annual decline, at minus 5.2%, last in 1979-80. But that year also recorded negative growth for agricultural GDP, at minus 12.8%.

April-June may be the first time that India’s economy would contract year-on-year since the government started coming out with quarterly estimates of GDP from 1996-97. But the data for the quarter, to be released by the National Statistical Office on August 31, could also show GDP falling for the first time in spite of agricultural production going up.

The country’s GDP registered an annual decline, at minus 5.2%, last in 1979-80. But that year also recorded negative growth for agricultural GDP, at minus 12.8%. Even the previous GDP contractions of 0.3% in 1972-73, 3.7% in 1965-66, and 1.2% in 1957-58 were accompanied by farm output falling by 5%, 11% and 4.5% respectively.

The first quarter of 2020-21 (April-March) may turn out differently.

Please click here to read more.


The Indian Express, 24 August, 2020, https://indianexpress.com/article/india/for-the-first-time-farm-sector-set-to-grow-even-as-gdp-sees-a-contraction-6567182/


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