Gross Domestic Product (GDP) 4th Quarter Data: India’s GDP growth for the full financial year (2019-2020) stands at 4.2 per cent, after the quarter 4 growth data was out on Friday, India’s gross domestic product grew 3.1 per cent in the quarter 4 — from January to March — slightly affected by COVID-19 lockdown. News agency Reuters had pegged GDP growth at 2.1 per cent in the final quarter of the fiscal, which has been surpassed by the actual growth rate. Also Read - COVID-19 Cases in India See Biggest Jump of Nearly 25,000; Total Tally Rises Above 7.6 Lakh | Key Points
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> This foreshadows the brunt the economy is going to bear in the coming days as the full impact of the lockdown will be reflected in the first quarter (April to June) data Also Read - Madhya Pradesh Lockdown Extension News: Complete Shutdown Across State on Sundays | Advisory to be Issued Soon
> The overall GDP growth of this year — 4.2 per cent — is an 11-year low.
> In the third quarter (October to December), GDP growth slipped to a nearly seven-year low of 4.7 per cent.
> The output of eight infrastructure sectors contracted by 38.1 per cent in April against 5.2 per cent growth year-on-year.
> The SBI pegged the GDP growth at 1.2 per cent in the last quarter of the previous fiscal.
> The Reserve Bank of India had said that GDP growth would be negative as an aftermath of the global pandemic.
> RBI Governor Shaktikanta Das said the economic growth in 2020-21 is likely to be in the negative territory as the “macroeconomic impact of the pandemic is turning out to be more severe than initially anticipated”.
> The Narendra Modi-led government announced a Rs 20 lakh crore stimulus package to provide a boost to the economy suffering from the ravages of COVID-19.
> The government had revised its budget deficit for the last fiscal year to 3.8 per cent from an earlier 3.3 per cent.