INDIA ECONOMIC DATA.
- GDP growth :- India's GDP growth rate was 1.6% in the fourth quarter of 2020, following a major contraction in the previous quarter due to the COVID-19 pandemic. For the fiscal year 2020-2021, the estimate for GDP growth is -7.7%.
- Unemployment :- According to the Centre for Monitoring Indian Economy (CMIE), India's unemployment rate was 6.9% in February 2021. However, some experts believe that the true rate of unemployment may be higher due to underemployment and the informal sector.
- Inflation :- India's inflation rate was 5.03% in February 2021, up from 4.06% in January. This increase was partly due to higher fuel prices.
- Interest Rates :- The Reserve Bank of India has kept its benchmark interest rate steady at 4% in recent months to support economic recovery from the pandemic.
- Trade Balance :- India is running a trade surplus in the current financial year, with exports outpacing imports in recent months. India's trade deficit decreased significantly from USD 176.4 billion in 2019-2020 to USD 42 billion in April-December 2020.
These are some of the key economic indicators for India right now, and they reflect the ongoing impact of the global COVID-19 pandemic on the Indian economy. However, there are also signs of recovery and growth in certain sectors.
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