Which of the following statements is/are correct with reference to the Gross Domestic Product (GDP) growth?
A. India’s GDP contracted by 7.3% in 2020-21, as per provisional National Income estimates released by the National Statistical Office.
B. Only two sectors bucked the trend of negative GVA growth are agriculture, forestry and fishing, which rose 3.6%, and electricity, gas, water supply and other utility services (up 1.9%).
C. Both A & B
D. None of these
Explanation:
India’s Gross Domestic Product (GDP) contracted 7.3% in 2020-21, as per provisional National Income estimates released by the National Statistical Office. It marginally better than the 8% contraction in the economy projected earlier. GDP growth in 2019-20, prior to the COVID-19 pandemic, was 4%. Only two sectors bucked the trend of negative GVA growth — agriculture, forestry and fishing, which rose 3.6%, and electricity, gas, water supply and other utility services (up 1.9%).
