Prime Time Zone, Webdesk: The Indian economy is booming. The gross domestic product (GDP) in the December quarter for the fiscal year 2020-21 recorded positive growth after two consecutive quarters of decline. The resumption of economic activity after a lengthy lockdown and the continuation of vaccine distribution to the corona epidemic have helped GDP emerge from the technological recession. In the first quarter ending June 2020, the GDP growth rate was negative at 23.9 per cent.
The economy, which had a rapid recovery in the July-September quarter, was limited to a negative 7.5 per cent. It then recorded positive growth, fulfilling expectations in the third quarter ending December. According to government data, India’s GDP grew by 0.4 per cent in the third quarter ended December. India is one of the few major economies to achieve growth in the third quarter of 2020-21. The National Bureau of Statistics (NSO) said in a statement that the forecast for the full financial year was 8 percent.
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