India GDP.

                      India GDP. 

India's Gross Domestic Product (GDP) for the financial year 2020-2021 is estimated to contract by 7.7% due to the impact of the COVID-19 pandemic, according to the Ministry of Statistics and Programme Implementation. The Indian economy, which was already going through a slowdown before the pandemic hit, has been hit hard by the lockdowns and other restrictions in place to contain the spread of the virus. 

The contraction in GDP is expected to be driven by sharp declines in domestic consumption and private investments. However, the Indian government has taken several measures to boost the economy which includes stimulus packages, infrastructure spending, and other reforms. The long-term prospects for the Indian economy remain positive due to a growing middle class, favorable demographics, and a strong entrepreneurial culture.

India's Gross Domestic Product (GDP) growth rate was -7.7% in the financial year 2020-2021, due to the impact of the COVID-19 pandemic. The pandemic led to widespread disruptions in economic activity, particularly in sectors such as agriculture, manufacturing, tourism, and hospitality. The lockdowns and other restrictions in place to contain the spread of the virus resulted in job losses and reduced consumer spending, which further negatively impacted the economy. However, the Indian government has taken several measures, including stimulus packages, infrastructure spending, and other reforms, to support the economy and promote growth.

Many economists are optimistic about the long-term prospects of the Indian economy due to a growing middle class, favorable demographics, and a strong entrepreneurial culture. It's projected that the GDP growth rate will pick up to around 10% in the financial year 2021-2022 due to a low base effect and the continued provision of government support.