India’s economy expanded in the final three months of 2020, thus exiting a severe recession caused by sharp contractions in the previous quarters due to the impact of one of the harshest lockdowns to battle the coronavirus pandemic.
Gross domestic product grew 0.4 percent in the three months to December, data from the statistics ministry showed Friday.
The decline in the September quarter was revised to 7.3 percent from 7.5 percent and the contraction in the June quarter was revised to a record 24.4 percent from 23.9 percent.
The GDP estimate for the fiscal year ending March 31 this year was revised to -8.0 percent from -7.7 percent projected on January 29. In the fiscal year 2019-20, the economy grew 4.0 percent.
The material has been provided by InstaForex Company – www.instaforex.com