India’s Gross Domestic Product (GDP) contracted 7.5% in the second quarter of 2020-21, following the record 23.9% decline recorded in the first quarter, as per estimates released by the National Statistical Office on Friday. Agriculture, which was the only sector to record growth between April and June this year, grew at the same pace of 3.4% in the second quarter, while manufacturing gross value-added (GVA) staged a sharp recovery to record 0.6% growth between July and September after collapsing 39.3% in the first quarter. Electricity, gas, water supply and other utility services also recorded 4.4% growth in the second quarter, recovering from a 7% contraction in Q1. But it remained a bleak quarter for several sectors, including mining, services such as retail trade and hotels, construction and financial services. The National Statistical Office also stressed that its estimates are hampered to some extent by the restrictions imposed in the first quarter of this year during the national lockdown.

(The Hindu)