Estimates of Gross Domestic Product for the Second Quarter
(July-September) of 2020-21
The National Statistical Office (NSO), Ministry
of Statistics and Programme Implementation has released
the estimates of Gross Domestic Product (GDP) for the second quarter (July-September)
Q2 of 2020-21, both at Constant (2011-12) and Current Prices, along with the corresponding
quarterly estimates of expenditure components of the GDP on 27 November 2020.
2. GDP at Constant (2011-12) Prices in Q2 of 2020-21
is estimated at ₹ 33.14 lakh crore, as against ₹ 35.84 lakh crore in Q2 of 2019-20, showing
a contraction of 7.5 percent as compared to
4.4 percent growth in Q2 2019-20. Quarterly GVA at Basic Prices
at Constant (2011-12) Prices for Q2 of 2020-21 is estimated at ₹30.49 lakh crore, as against ₹ 32.78 lakh crore in Q2 of 2019-20, showing a contraction of 7.0 percent.
3. GDP at Current Prices for Q2 2020-21 is estimated
at ₹ 47.22 lakh crore, as against ₹ 49.21 lakh crore in Q2 2019-20,
showing a contraction of 4.0 percent as compared to 5.9 percent growth in Q2 2019-20.
GVA at Basic Prices at Current Prices in Q2 2020-21 is estimated at ₹42.80
lakh crore, as against ₹44.66 lakh crore in Q2 2019-20, showing a contraction
of 4.2 percent.
4. GDP at Constant (2011-12) Prices for H1 (April-September)
2020-21 is estimated at ₹ 60.04 lakh crore as against ₹ 71.20 lakh crores
during the corresponding period of previous year, showing a contraction of 15.7
percent in H1 2020-21 as against growth of 4.8 percent during the same period last
year. GDP at Current Prices for H1 2020-21 is estimated at ₹ 85.30 lakh crore
as against ₹ 98.39 lakh crores during the corresponding period of previous
year, showing a contraction of 13.3 percent in H1 2020-21 as against growth of 7.0
percent during the same period last year.
5. Estimates of GDP along with GVA at Basic Prices
by kind of economic activity, Expenditures on GDP at Constant (2011-12) and Current
Prices for Q2 2018-19 to 2020-21 and H1 2018-19 to 2020-21, are given in Statements
1 to 8.
6. The Second quarter estimates are based on First
Advance Estimates of agricultural production during Kharif
season of 2020-21 obtained from the Department of Agriculture, Cooperation &
Farmers’ Welfare, estimates of production of major livestock products viz, Milk, Egg, Meat and Wool for Livestock Sector obtained
from the Department of Animal Husbandry & Dairying and Fish production data
from the Department of Fisheries.
7. Index of Industrial Production (IIP); monthly
accounts of Union Government Expenditure maintained by Controller General of Accounts
(CGA) and of State Government expenditure maintained by Comptroller and Auditor
General of India (CAG) for the period July-September 2020-21 have been used. Performance
of key sectors like Transport including Railways, Road, Air and Water Transport
etc., Communication, Banking and Insurance during the period July-September 2020-21
and the performance of corporate sector during July-September 2020-21 based on data
received from BSE/NSE has been taken into account while compiling the estimates.
8. Percentage change in the main indicators used
in the estimation are listed below:
9. With a view to contain the spread of the Covid-19
pandemic, restrictions were imposed on the economic activities
not deemed essential during Q1. Though the restrictions have been gradually lifted,
there has been an impact on the economic activities. In these circumstances, some
other data sources such as GST, interactions with professional bodies etc. were
also referred to for corroborative evidence and these were clearly limited.
10. Estimates are, therefore, likely to undergo
revisions for the aforesaid causes in due course, as per the release calendar.
11. The next release of quarterly GDP estimates
for the quarter October-December, 2020 (Q3 of 2020- 21) will be on 26.02.2021.